Fannie Reports MF Fundings

Fannie Mae has announced multifamily investments of $11.8 billion for the first half of 2005.Fannie Mae said more than 92% of the multifamily units it financed were affordable to families at or below the median income in their communities. More than 60% of the multifamily units were reserved for tenants who fall in the low- and very-low-income categories, Fannie Mae reported. The government-sponsored enterprise said it committed $564 million in multifamily equity investments that qualify for the federal Low Income Housing Tax Credit. The GSE can be found online at http://www.fanniemae.com.