| The Federal Housing Finance Agency (FHFA) recently announced new multifamily loan purchase caps for Fannie Mae and Freddie Mac. The two government-sponsored enterprises (GSEs) will be allowed to lend $100 billion each — $200 billion in all — to support the multifamily market. The new caps, which are in place from October 1 through the end of 2020, apply to all multifamily business with no exclusions. FHFA will require at least 37.5 percent of Fannie and Freddie’s multifamily portfolio be directed at mission-driven, affordable housing. In addition, the FHFA is reclassifying loans in select rural regions and high-cost locations, making them eligible to count toward the new affordable housing goal. The former green loans program, which financed energy and water efficiency improvements, will now be considered the conventional business unless these projects adhere to other affordability requirements. |
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About Marcus & Millichap (NYSE: MMI) With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors |
