Multifamily

Commercial and multifamily lending lags the technology available in the residential market. A look at how one expert thinks the gap could be closed.

Lennar, the region's largest home builder has acquired a huge piece of land alongside Interstate 15 in the San Diego community of Rancho Peñasquitos and is preparing to build 324 single- and multi-family homes for middle-class families.

Rhode Island's housing market cooled a bit in February, as the median sales price remain unchanged from the same month a year ago, but the number of sales fell, and houses lingered on the market a week longer before selling.

Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.

Berkadia, a joint venture run by Berkshire Hathaway and Jefferies Financial Group, is acquiring real estate capital advisory firm Central Park Capital Partners to diversify its capital sources.

Freddie Mac closed its fifth LIHTC fund since 2018 and will make three investments in affordable housing through a partnership with National Equity Fund.

The agency's pilot program, designed to streamline mortgage insurance applications associated with the Low-Income Housing Tax Credit program, will now include applications for new construction and substantial rehabilitation.

Stable equity and debt availability should keep multifamily and commercial real estate originations in line with 2017's peak, according to the Mortgage Bankers Association.

While Fannie Mae's multifamily origination volume took a step back from 2017's record high of $67 billion, its delegated underwriting and servicing program provided $65 billion in financing in 2018, led by Wells Fargo.

High home prices and expected interest rate hikes should lead to continued growth in multifamily mortgage origination volume in 2019, according to Freddie Mac.