Columbia, Md.-based affordable housing lender Enterprise Community Investment is expanding its multifamily lending portfolio to include market-rate multifamily lending. Selling a number of Fannie Mae (FNM) loan products, Enterprise’s multifamily portfolio has already financed more than $540m to construct 16,000 affordable housing units, as well as mortgages to fund the acquisition and rehabilitations of other multifamily units. “With the expansion of our special Fannie Mae lending program, we can now help both affordable and market-rate multifamily housing owners acquire, refinance or rehab and potentially reduce operating costs,” said C. Lamar Seats, Enterprise senior vice president, in a statement. “Refinancing proceeds can be used towards weatherization improvements, green retrofits or preservation of family and seniors housing,” he added. Write to Austin Kilgore.

About the Author

Most Popular Articles

Freddie Mac: Mortgage rates reverse course from last week’s low

This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.

Oct 17, 2019 By

Latest Articles

Embrace Home Loans names new senior vice president, retail and direct sales

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.

Oct 18, 2019 By