Fannie Finances $6 Billion of MF
Fannie Mae made a total investment of about $36 billion in multifamily housing last year, the government-sponsored enterprise has reported.
More than 85% of the multifamily units financed by Fannie Mae last year were in the affordable housing category - affordable to families at or below area median income - according to the company.
About $1.7 billion went to multifamily equity investments that qualify for the Low Income Housing Tax Credit program, the GSE said.
"We will soon embark on a new pledge to further expand the supply of affordable housing where it is needed most, as part of a newly expanded American Dream Commitment," said Ken Bacon, senior vice president of Fannie Mae's multifamily division.
And funding provided through Fannie Mae Delegated Underwriting and Servicing lenders totaled $31 billion, Fannie Mae reports.
Another $3 billion of financing was done through "MFlex" lenders, who typically finance small multifamily developments.
Fannie Mae's multifamily assets - in the form of multifamily mortgages, multifamily MBS, investments in LIHTCs, and other assets - now total more than $113 billion, according to the GSE.
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