The US Department of Housing and Urban Development funded fewer loans in the first quarter than in the period ending December 2021, according to a Trepp analysis.
HUD funded 346 loans totaling $6.04 billion in the quarter ended March 31, down from the 404 loans totaling $8.92 billion it funded in the previous quarter. The agency's fiscal year 2021, which ended in September, saw 1,578 multifamily loans funded with a total balance of $29.48 million, up 55% from fiscal 2020 numbers.
Trepp notes that the HUD origination volume last quarter aligns with the $15 billion and $16 billion Freddie Mac and Fannie Mae respectively originated during the same time. Greystone Funding was the most active lender during HUD's latest fiscal year, accounting for $11.28 billion of the agency's total production volume. Greystone was followed by Dwight Funding and Berkadia.
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