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FHFA Sets Multifamily Cap of $70B Per GSE
The Federal Housing Finance Agency (FHFA) said Tuesday that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $70 billion each, for a combined total of $140 billion. At least 50% of the GSEs’ multifamily loans are required to be used for affordable housing.
“As we continue to address the shortage of affordable housing, especially amid the COVID crisis, FHFA will keep a close eye on the multifamily caps to ensure that they are sufficient and serve to increase the supply of affordable housing but do not crowd out private capital,” said FHFA Director Mark Calabria.
Walker & Dunlop CEO Willy Walker applauded FHFA’s increase in the percentage of affordable lending that Fannie Mae and Freddie Mac must do from the existing 37.5% to 50%. “We see this increased focus by FHFA as positive for the market and our business,” said Walker.
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