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FHFA Announces 2024 Multifamily Loan Purchase Caps for Fannie Mae, Freddie Mac

Tuesday, November 14, 2023 - 1:30PM

The Federal Housing Finance Agency (FHFA) today announced that the multifamily loan purchase caps for Fannie Mae and Freddie Mac in 2024 will be $70 billion, a combined $140 billion. FHFA will require at least 50% of Fannie and Freddie’s multifamily businesses be mission-driven affordable housing. Also, loans classified as supporting workforce housing properties in Appendix A of the conservatorship scorecard will be exempt from the volume caps. FHFA will continue to monitor the multifamily mortgage market and will increase the caps if necessary. It will not reduce the caps. The 2023 caps were $75 billion each for Fannie and Freddie.

The overall affordable housing multifamily market will be a topic at the Novogradac 2023 Housing Tax Credit Finance Conference, Nov. 30-Dec. 1 in Las Vegas.

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