Although the GSEs financed fewer affordable units in small multifamily properties, the number of affordable units in Fannie- and Freddie-financed high-rises and garden apartments spiked from 170,000 to 248,000.

Sources tell Inside The GSEs that loans brokered by New York-based multifamily lender are currently ineligible for delivery to Freddie Mac.

FHFA Director Sandra Thompson said workforce housing exemptions should still encourage multifamily borrowers to preserve affordable housing for “extended periods.”

More than 240,000 renters in properties with Fannie-backed loans reported their rent payments to credit bureaus using the Fannie pilot. Some 58% of them saw their FICO scores increase as a result.

The mortgage giant executed five credit-risk transfer transactions in the space of a week.

Freddie takes steps to ensure its older multifamily housing stock is in adequate repair. This is particularly crucial for properties in affordable housing programs.

Fannie’s decision to lower the downpayment requirement for loans on two- to four-unit multifamily properties should boost investment in this key source of affordable housing.

A new Fannie loan product offers lower pricing and more flexibility to conventional multifamily borrowers who voluntarily set aside units as workforce housing.

Servicers will be expected to continuously evaluate properties for early warning signs of life safety hazards or deferred maintenance.

Debby Jenkins, former head of multifamily at Freddie Mac, will now run affordable housing activities for Greystone.