The capital markets teams at Fannie and Freddie churned out a reperforming loan sale, a Guaranteed Multifamily Structures deal and a Structured Agency Credit Risk transaction.
A Fannie survey highlights how sentiments have changed among condo lenders after Fannie Mae and Freddie Mac imposed new restrictions in the wake of the Surfside tower collapse in 2021.
Thousands of stakeholders responded to FHFA’s RFI on the prospect of the GSEs establishing tenant protections for the multifamily properties they back. Most respondents were tenants.
At FHFA’s direction, the GSEs have been working to ensure lenders can identify condo projects that are ineligible due to deferred maintenance or characteristics like excess commercial space or investor concentration.
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.
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