WASHINGTON, DC–Neither Fannie Mae, nor (as we reported earlier this month) Freddie Mac will have used the 2017 multifamily lending caps of $36.5 billion that the Federal Housing Finance Agency set for the GSEs.
It is a telling development for a few reasons: one, it indicates that the uncapped businesses by the GSEs flourished for the year and two, it suggests that the reduced cap of $35 billion each that the FHFA set for 2018 should not hamper the multifamily finance market.
Not reaching their cap for 2017 also points to prudent lending on the part of Freddie Mac and Fannie Mae — even as they have stretched their programs to accommodate more collateral types and new structures.
For Fannie Mae, its growth was most evident in its green programs, Jeff Hayward, head of Fannie Mae's Multifamily business tells GlobeSt.com. “We did $3 billion of green in 2016. I would say we did seven-eight times more than that in 2017.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
