Freddie Mac Provides Record Support for Multifamily Mission in 2016
(firmenpresse) - MCLEAN, VA -- (Marketwired) -- 02/15/17 -- (OTCQB: FMCC) today announced that the company delivered record financial support for the multifamily market in 2016 for targeted affordable housing, smaller multifamily properties, green housing, and seniors housing.
"These results underscore our commitment to serve every corner of the multifamily market, particularly those where the needs of renters are the greatest due to increasing rents and utility expenses and declining affordability," said , executive vice president of Freddie Mac Multifamily. "Looking ahead, we will continue to work with the industry to develop innovative ways to support affordable rental housing and improve energy efficiency."
Specifically, Freddie Mac Multifamily financed the following record-setting volumes in 2016:
More than $6.3 billion in targeted affordable housing loans, of which over $2.4 billion was for multifamily bond credit enhancements, and other guaranteed transactions.
Nearly $4.5 billion in small balance loans.
Almost $3.3 billion in Freddie Mac Multifamily Green Advantage(SM) loans for energy- and water-saving improvements in older workforce housing.
Just over $3.2 billion in seniors housing loans (including seniors apartments).
Freddie Mac also financed more than $1.0 billion in manufactured housing community loans, matching the volume it set in 2015.
In total, Freddie Mac financed in 2016, with nearly 90 percent of the homes financed affordable to low- to moderate-income renters who earn 100 percent or less of their area median income.
"We can provide continuous financing for affordable rental housing in a safe and sound manner because we transfer the vast majority of credit risk to private investors," said Brickman. "We continue to build on the success of our proven K-Deals by developing innovative new risk-transfer vehicles that further enable us to serve our customers, protect taxpayers, and fulfill our mission to America''s renters."
Last year, Freddie Mac issued a record $51.2 billion in K Certificates and SB Certificates plus an additional $1.0 billion in 55-Day Participation Certificates and Q Certificates.
Reflecting the strong credit performance of its multifamily business, Freddie Mac also reported credit losses of only 0.1 basis points in 2016 and a delinquency rate of only 3 basis points as of December 31, 2016. The delinquency rate is based on the unpaid principal balance of multifamily loans that are two or more monthly payments past due or in the process of foreclosure.
is the nation''s multifamily housing finance leader. Nearly 90 percent of the rental homes we fund are affordable to families with low to moderate incomes. Our mission is to provide liquidity, stability and affordability to America''s rental housing market, especially for underserved renters and communities.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we''ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, and taxpayers. Learn more at , Twitter and Freddie Mac''s blog .
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Datum: 15.02.2017 - 13:21 Uhr
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News-ID 1487024
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