The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

InvestmentsReal Estate

Freddie Mac invests $61 million in housing for families displaced by Hurricane Harvey, others

Launches new LIHTC fund to provide housing for homeless individuals

Freddie Mac, which re-entered the Low-Income Housing Tax Credit market last year for the first time in nearly 10 years, is making another investment in affordable housing.

The government-sponsored enterprise announced Monday that it closed a LIHTC fund with National Equity Fund and made three investments, totaling more than $61 million.

The new fund is Freddie’s fifth LITHC fund since re-entering the market last year.

According to Freddie Mac, the first three investments from this new fund will help provide supportive housing for individuals experiencing homelessness and families displaced by Hurricane Harvey.

Specifically, the investments from the new fund will go towards (details from Freddie Mac):

  • Aiding those displaced by Hurricane Harvey: A $15 million LIHTC equity investment in Houston’s New Hope Housing’s Dale Carnegie development will provide high-quality housing and supportive services to 170 individuals and families displaced by Hurricane Harvey.
     
  • Addressing Homelessness on Skid Row: A $19.6 million LIHTC equity investment in Skid Row Housing Trust’s Flor 401 Lofts development in Los Angeles will serve nearly 100 veterans and special needs individuals experiencing homelessness with both housing and supportive services.
     
  • Serving Homeless Veterans in South Los Angeles: A $26.5 million LIHTC equity investment in Hollywood Community Housing’s Florence Mills Apartments will help provide supportive housing in South Los Angeles — an area with a very high homeless rate. Thirteen of the 74 units will be designated for homeless veterans.

According to Freddie Mac, it chose to partner with NEF on the new fund because of the nonprofit’s “deep expertise with the LIHTC program, its commitment to serving communities in need, and its ability to support Freddie Mac’s mission of delivering liquidity and stability to underserved markets.”

David Leopold, vice president of Targeted Affordable Sales & Investments at Freddie Mac, said that NEF has a more than 30-year record of making investments in affordable housing, adding that the GSE is “proud” to aid NEF in its mission.

“We believe that extraordinary things can happen with great partners, and NEF’s partnership with Freddie Mac demonstrates that motto to be true,” said Reena Bramblett, NEF’s senior vice president of equity placement. “Freddie Mac’s investments provide life-changing opportunities for the individuals and families that call these LIHTC properties home.”  

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