Freddie Mac is raising concerns that multifamily originations may have "peaked," make it harder for the government-sponsored enterprise to meet its affordable housing goals.After a decade of "unparalleled growth" in the multifamily sector, a large reduction in multifamily mortgage originations is becoming "more likely," Freddie Mac says in a comment letter to the Department of Housing and Urban Development. Supply-and-demand fundamentals could dampen construction, and condominium conversions could reduce the stock of existing affordable rental housing, it says. In addition, a substantial portion of multifamily stock is locked into low-interest-rate mortgages. Freddie recommends that HUD conduct midyear reviews of MF finance activities and recalibrate the affordable housing goals, if necessary. Freddie Mac can be found online at http://www.freddiemac.com.
-
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
2h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
4h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
4h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
9h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
11h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24