Entering 2023 with $150 billion for multifamily funding, Fannie and Freddie are providing capital when others retreat.
Midway through 2022, regulators began scrutinizing the extent to which banks were exposed to commercial real estate loans amid the rising interest environment, sending many big bank lenders in particular to the sidelines for the balance of the year. Now, with the recent spate of bank collapses bringing regulatory attention to the massive amount of property loans at smaller banks, those lenders, too, are likely to pull back.
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