CRED iQ: Multifamily Distress Rate Up 80 Basis Points in February

CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.

FHFA Extends COVID-19 Multifamily Forbearance

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners as needed, subject to tenant protections the agency imposed during the pandemic.

MBA Urges FHFA to Extend Current GSE Affordable Housing Goals

The Mortgage Bankers Association, in a letter this morning to the Federal Housing Finance Agency, said FHFA should extend current affordable housing goals for Fannie Mae and Freddie Mac, given current economic uncertainty.

Longer-Term Challenges to Multifamily Risk Outlook Emerge

The 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.

FHFA Leaves 2021 GSE Housing Goals Unchanged

With current housing goals set to expire in December, and amid economic uncertainty stemming from the lingering coronavirus pandemic, the Federal Housing Finance Agency yesterday left 2021 housing goals for Fannie Mae and Freddie Mac unchanged from the previous three years.

GSEs Extend Multifamily Forbearance

The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will allow servicers to extend forbearance agreements for multifamily property owners with existing forbearance agreements.