A record year in agency multifamily MBS issuance pushed the overall commercial mortgage securitization market to an all-time high in 2017, according to a new analysis by Inside MBS & ABS.
Freddie Mac set a new company record for multifamily lending last year by financing $73.2 billion in loan purchase and guarantee volume. That’s a noteworthy 30 percent increase from the $56.8 billion financed in the previous year and translates to 820,000 units. Freddie attributes the growth to a host of new offerings and executions. The GSE set records in small-balance loans, targeted affordable housing and its Green Advantage businesses. “The strength of our innovative products, underwriting and world-class securities brings liquidity to every corner of the multifamily market,” said David Brickman, Freddie’s executive vice president and head of multifamily.
The government-sponsored enterprises both ended 2017 with record-setting numbers in the mul-tifamily market. Freddie Mac issued $68.0 billion in multifamily securities last year, up from $51.2 bil-lion the previous year.
It’s been an ugly year for retail chain bankruptcies, which means investors in commercial MBS backed by such properties are continuing to feel queasy about some of the bonds they own.
It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...
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