The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac may have multifamily loan purchase caps of $75 billion for each Enterprise in 2023.
The combined total of $150 billion lending authorization is to support the multifamily market. In its News Release, the FHFA stated:
“To ensure a strong focus on affordable housing and traditionally underserved markets, FHFA will require that at least 50 percent of the Enterprises’ multifamily business be mission-driven affordable housing.”
GERSONLAW represents lenders across the United States providing affordable and workforce multifamily housing and maintains a specialty practice team for affordable housing multifamily loans for GSE lenders, banks, and credit unions.
For more information relating to FHFA’s announcement click here to download and read the PDF.