New home sales collapse, erasing recent surge

New home sales collapse, erasing recent surge

Sales 11.5% down YOY; fall to 406,000 annual pace

HousingWire TECH100 winner FormFree issued pioneering patent

All-digital verification is now a thing

Fannie Mae offers new suite of HomePath financing

Goodbye HomePath Mortgage and HomePath Renovation
W S
Lending

Multifamily lending spikes at Freddie Mac, Fannie Mae

Fannie Mae and Freddie Mac boosted multifamily lending business in 2011 to a total of $44.7 billion, marking double-digit increases for the two government-sponsored enterprises.

Fannie Mae provided $24.4 billion of multifamily debt financing last year, a 44% jump from $16.9 in 2010. Freddie Mac saw a similar increase to $20.3 billion from $15.4 billion.

David Brickman, Freddie's multifamily senior vice president, said the GSE's purchase volume reflects market gains on the year.

"Looking ahead, we expect robust growth in the multifamily market," Brickman said in a release. "The outlook is very positive due to solid fundamentals, demographics, low interest rates and strong capital flows into the sector."

Refinances made up about 58% of Freddie's loan purchases or credit enhancements, with about 35% acquisitions.

About 98% of Fannie's business came from its delegated underwriting and servicing platform, which relies on shared risk with lenders. Top DUS partners included Wells Fargo (WFC), Walker & Dunlop (WD) and Beach Street Capital.

ascoggin@housingwire.com

Recent Articles by Andrew Scoggin

Comments powered by Disqus