Between 2022 and 2024, Fannie’s open multifamily fraud investigations spiked from 14 to 193. In the same interval, actual fraud findings went from 3 to 87.

Freddie is revising its liquidity verification documentation requirements for sponsors to include a liquidity verification worksheet with delivery of the full underwriting package.

Next year, the GSEs will see a $30 billion hike in their combined multifamily caps, which is in keeping with forecasts of more multifamily activity in 2026.