Freddie Reports Record MF Volume

Freddie Mac closed 2002 with a record $14.3 billion in multifamily lending volume, according to the government-sponsored enterprise.The GSE credited "strong representation" by its Program Plus correspondents for the good performance. Adrian Corbiere, Freddie Mac's senior vice president of multifamily, said more than 90% of the business funded by Freddie Mac in 2002 was in the affordable housing arena. Among the results reported by the GSE for different components of its multifamily business are: $6.9 billion through "flow programs," financing more than 160,000 rental units; $3.5 billion in negotiated transactions; $883 million invested in Low-Income Housing Tax Credits; $1.4 billion of business through the new fixed-to-float option and nearly $4 billion via the early rate-lock delivery option; and more than $230 million in seniors housing mortgages.