What does 2013 hold for multifamily lending? MHN talks to Stephen Rosenberg, CEO, Greystone, about what he expects to see with lending and securitization, and how he thinks the sequester will affect the industry.
MHN: What are your predictions for multifamily lending in 2013?
Rosenberg: One thing that we’re seeing now is that on the agency-lending side, we have gotten notice from Fannie Mae and Freddie Mac that the federal overseer of those two agencies is planning to limit their lending for the coming year. For example, Fannie Mae did about $33 billion [in loans] last year, and the regulator now is limiting them to a 10 percent reduction of only $30 billion, and the way they’re going to get down that far is by tightening up underwriting criteria. It really does seem like there is a serious effort on the administration’s part to limit the market share of Fannie Mae and Freddie Mac, and I think that’s very significant.
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