Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

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

How Biden’s Neighborhood Homes proposal impacts real estate investors

Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. Here's a look into how it impacts real estate investors.

MortgageReal Estate

Freddie Mac posts 13% increase in multifamily originations

Q2 was strong for the GSE, and its multifamily business continues to expand

Freddie Mac posted a 13% increase in multifamily originations in the second quarter, the government-sponsored enterprise reported Tuesday. According to the company, it originated nearly $16 billion in multifamily guarantees in Q2 and increased its interest income from the multifamily by 8%.

Freddie's multifamily segment continues to put up strong performance numbers. Multifamily loans are still exhibiting a functionally non-existent delinquency rate at 0.01%.

Thanks to great performance on its now $220 billion multifamily portfolio, Freddie netted $293 million in interest income in Q2 representing a roughly 8% boost in interest income over last year’s $271 million in interest income.

“Freddie Mac’s transformation continued in the second quarter, with good business results and similarly good financial performance. In business operations, our guarantee book grew significantly, credit quality was high, and we are generating a consistent stream of new innovations for our customers. On the financial side, we produced strong earnings with a growing track record of quarterly stability. These together provide the foundation necessary so Freddie Mac can effectively deliver on all aspects of its mission and, more broadly, improve America's housing finance system,” Freddie Mac CEO Donald Layton said in a statement.

All told, Freddie provided liquidity for approximately 342,000 rental units this year as opposed to 332,000 last year.

Freddie's performance this quarter is indicative of a multifamily industry that is still going strong. Demand remains high thanks to good job growth, high home prices, lifestyle changes and other factors while a constricting pipeline ensures that the demand is funneled into existing units and keeps rents high.

Most Popular Articles

The housing market is losing steam

Mortgage applications for new home purchases decreased 3% from May and 23.8% year over year, suggesting buyer fatigue in the housing market.

Jul 20, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please