SOURCE: Freddie Mac
January 29, 2014 14:20 ET
MCLEAN, VA--(Marketwired - Jan 29, 2014) - Freddie Mac (OTCQB: FMCC) announced today that it had another strong year with $25.9 billion in volume for its multifamily business (loan purchase and bond guarantee volume) -- the second biggest volume year in its history. The largest yearly volume of $28.8 billion occurred the previous year in 2012.
This volume includes Freddie Mac's targeted affordable housing products, which finance apartments that receive some form of local, state or federal government subsidy and have rents that are affordable to individuals earning up to the local area median income. It also reflects the $25.9 billion loan purchase cap for 2013 established by the company's conservator, the Federal Housing Finance Agency.
Quotes from David Brickman, senior vice president of Freddie Mac Multifamily:
Freddie Mac Multifamily 2013 Business Highlights:
Click here to read the 2012 business volume press release.
Since the launch of Freddie Mac's multifamily business in 1993, it has provided more than $316 billion in financing for about 61,000 multifamily properties.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac
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