Multi-Family Finance

Freddie Mac has announced it financed $24 billion in multifamily whole loan and bond guarantee business in 2008, a more than 10 percent increase over its 2007 volume.

Fannie Mae announced that the company, through its lender and housing partners, financed $35.5 billion in multifamily rental housing in 2008.

The U.S. Department of Housing and Urban Development’s Office of Housing has posted the draft of a new notice spelling out procedures for the delegation to state and local housing agencies of processing of new Section 202 elderly supportive housing projects.

Harvard University’s Joint Center for Housing Studies has published a new report on the nation’s multifamily housing finance system and the role of the federal government, HUD, FHA, and the government-sponsored enterprises in the system.

The U.S. Department of Housing and Urban Development has announced its intention to sell certain unsubsidized multifamily and healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale.

In an interview reported by the Boston Globe, U.S. Representative Barney Frank indicated he wants the government to spend $10 billion on stalled low-income housing tax credit projects unable to secure equity.

NH&RA has officially launched the new Council for Energy Friendly Affordable Housing (CEFAH). CEFAH is an independent council within NH&RA focused on developing policy solutions and practical, cost effective measures to reduce energy consumption in affordable, public and HUD-assisted housing.

In what is being billed as his last speech, Treasury Secretary Henry M. Paulson Jr. delivered thoughts on the future of Fannie Mae and Freddie Mac.

The Internal Revenue Service has issued a proposed rule relating to conduit financing arrangements.

The U.S. Department of Housing and Urban Development (HUD) is soliciting comments by January 21 on a proposed template it has developed to be used by HUD multifamily housing program participants to submit financial data electronically.

The four federal banking regulators on December 22 issued a joint final rule to amend their Community Reinvestment Act (CRA) regulations.

New York Gov. David Paterson and several other governors recently sent a letter to President-elect Obama and Vice President-elect Biden that proposes an agenda for federal aid to states to be included in any future comprehensive economic recovery package.