MCLEAN, VA--(Marketwired - Jan 11, 2017) - Freddie Mac (
"Thanks to our incredible network of seller/servicers, investors and borrowers, Freddie Mac is the nation's largest multifamily lender for the second year in a row," said David Brickman, executive vice president of Freddie Mac Multifamily.
Brickman added, "We surpassed all of our earlier records for purchases and issuance in 2016 and enter the new year committed to providing essential liquidity to the multifamily market. I am especially proud of our Freddie Mac team, whose determination and ingenuity ensures our financing reaches every segment of the multifamily market."
In addition to conventional and small balance loans, Freddie Mac finances workforce and manufactured housing, as well as senior, student and state- or federally-subsidized properties. The Freddie Mac Green Advantage can be used with the company's other multifamily loan products to finance energy- and water-saving improvements.
Approximately $20.4 billion of Freddie Mac loan purchases in 2016 were not subject to the Federal Housing Finance Agency's $36.5 billion loan purchase cap. These include certain loans for affordable housing, smaller multifamily properties, senior housing, manufactured housing communities and energy- and water-saving improvements.
"Looking ahead, we are focused on providing mortgage capital, especially for affordable rental housing in markets where demand continues to far outstrip supply, and expect our volumes will align with the market's overall growth," Brickman said.
Freddie Mac Multifamily helps to ensure an ample supply of affordable rental housing by purchasing and securitizing mortgages on apartment buildings nationwide. The loans range from $1 million to several billion dollars and roughly 90 percent support rental units for low- and moderate-income households.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.