Freddie Mac Multifamily reached $77.5 billion in loan purchase and guarantee volume for 2018, a record for the government-sponsored enterprise.
The GSE also had $500 million in Low-Income Housing Tax Credit equity investments last year.
The $78 billion in total production surpassed the company’s prior record of $73.2 billion set in 2017. Freddie Mac Multifamily financed more than 860,000 rental units last year, more than 90 percent of which were considered affordable to low- and moderate-income families earning 120 percent of area median income or below.
The company also securitized a record $72.8 billion through its securitization offerings, including K and SB Deals that transfer most expected and stress credit risk to third-party investors. Of the $77.5 billion total, $44.9 billion was not subject to the Federal Housing Finance Agency’s volume cap while $32.6 billion was subject to the volume cap. Uncapped transactions can include loans for affordable housing, smaller multifamily properties, seniors housing, manufactured housing communities and energy- and water-saving improvements.