Less than halfway through 2015, Fannie Mae and Freddie Mac are approaching their $30 billion annual lending limit. Because these government-sponsored entities are by far the biggest multifamily lenders, reaching the limit so early in the year would alter the industry’s capital sources for the rest of 2015 and potentially early 2016. The limit was established by the Federal Housing Finance Agency in 2013 to limit GSE exposure to multifamily lending and allow private capital to expand their market share.
As of April 2015, Fannie Mae led new multifamily loan production at $14.9 billion, while Freddie Mac registered new volume of $14.3 billion. Remarkably, these volumes are up 231% for Fannie Mae and 266% for Freddie Mae during the same period in 2014. At this rate, both GSEs would reach their limit for 2015 by the end of 3rd quarter.
Read more...Fannie Mae, Freddie Mac Approach Multifamily Lending Caps | Property Management Insider
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