Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

MortgageReal EstatePolitics & Money

Freddie Mac outstrips Fannie Mae in multifamily guarantee growth by 19 percentage points

Multifamily lending market looks healthy as both companies report growth in their multifamily portfolios

Freddie Mac’s multifamily guarantee portfolio grew 30% year-over-year whereas Fannie Mae’s grew by 11% from Q1 2017 to Q1 2018.

According to both companies’ quarterly financial results, Freddie grew its portfolio from $164 billion to $213 billion. Fannie grew its portfolio from $253.3 billion to $281.3 billion. This translated to the two companies funding more than 300,000 multifamily units (Freddie funded 152,000; Fannie funded 154,000 units).

New multifamily business volume for Fannie Mae fell by 35% YoY from 17.4 billion in Q1 2017 to 11.3 in Q1 2018. Freddie Mac registered a marginal gain in new business volume from last year, with a 2.4% uptick from $12.7 billion in Q1 2017 to $13 billion in Q1 2018.

In terms of earnings on their multifamily portfolios, Fannie bagged a net gain of $149 million from last year to this year. Freddie on the other hand, saw a loss of $41 million. In its earnings report, the company blames the lost ground on lower fair value gains due to less tightening on K Certificate benchmark spreads, lower new commitment volume and the effects of strategic pricing. The silver lining for Freddie was the drop in income tax due to Trump’s corporate tax cuts.

As a whole, the delinquency rate in the multifamily family market is practically nonexistent. Both companies reported razor thin delinquency percentages. Fannie reported a total delinquency rate in its multifamily guaranty book of 0.13%. Freddie reported 0.02% delinquency, a historic low and good sign for the health of the multifamily market.


Most Popular Articles

How the Delta variant may impact the housing market

How should you look at data on the housing market to tell if things are returning to normal? HousingWire’s lead analyst answers. HW+ Premium Content

Jul 29, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please