The Federal Housing Finance Agency yesterday announced its 2021 affordable housing goals for Fannie Mae and Freddie Mac will remain the same as they were in 2020. It also seeks input about future housing goals rulemaking.
Tag: Multifamily
Dealmaker: NorthMarq Arranges $104M in Multifamily Refis
NorthMarq’s Chicago office arranged $103.5 million to refinance six multifamily assets in Iowa, Missouri and Indiana.
The Wonder Years: Freddie Mac’s K Series Turns 11
Freddie Mac’s K series quietly holds a place as an important, innovative multifamily market solution that has served borrowers, lenders, tenants and bondholders extremely well since its inception. Importantly for a government-sponsored entity, it also serves as a mechanism to transfer risk away from taxpayers.
MBA Urges FHFA to Extend Current GSE Affordable Housing Goals
The Mortgage Bankers Association, in a letter this week to the Federal Housing Finance Agency, said FHFA should extend current affordable housing goals for Fannie Mae and Freddie Mac, given current economic uncertainty.
Dealmaker: Capital One Provides $27M for Denver-Area Affordable Housing
Capital One, McLean, Va., provided a $27.4 million Fannie Mae fixed-rate loan for The View at North Peak, a 288-unit affordable community in Denver suburb Northglenn, Colo.
Concessions Rise as Rental Market Softens
Rental concessions are now nearly twice as common as in February as apartment owners strive to attract new tenants in a softened market, said Zillow, Seattle.
Longer-Term Challenges to Multifamily Risk Outlook Emerge
he multifamily sector made it through the first half of the year with less turmoil as some anticipated. But the pandemic could create longer-term challenges for the sector, said Phoenix American, San Rafael, Calif.
Dealmaker: Walker & Dunlop Arranges $52M Bridge Loan
Walker & Dunlop, Bethesda, Md., arranged $51.8 million in bridge financing for The Rise Central, a newly built 230-unit apartment property in downtown Beaverton, Ore.
Pandemic Likely to Have ‘Meaningful Impact’ on Multifamily Market
Freddie Mac, McLean, Va., predicted marginal reductions in rents and increased vacancies as the multifamily market responds to the COVID-19 pandemic’s economic effects.
FHFA: Multifamily Owners in Forbearance Must Inform Tenants of Eviction Suspension, Tenant Protections
The Federal Housing Finance Agency announced Thursday multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac who enter into a forbearance agreement must inform their tenants about protections during the property owner’s forbearance and repayment periods.