On July 16, 2021, Novogradac updated its Privacy Notice for California Residents. You should review this updated Privacy Notice before continuing to use our site. By continuing to use our site, you agree to this updated Privacy Notice.
FHFA Multifamily Loan Purchase Caps Total $156 Billion for Fannie, Freddie
The Federal Housing Finance Agency (FHFA) announced today $78 billion each in 2022 multifamily loan purchase caps for Fannie Mae and Freddie Mac. The Multifamily Caps Fact Sheet states at least 25% of Fannie and Freddie’s multifamily businesses are required to be affordable to residents at or below 60% area median income (AMI), up from 20% in 2021. In 2022, FHFA will allow loans on affordable units in cost-burdened renter markets and loans to finance energy or water efficiency improvements with units affordable at or below 60% AMI to be classified as mission-driven. At least 50% of multifamily business must be mission-driven affordable housing, according to the fact sheet. To provide sufficient liquidity and support in the multifamily mortgage market, FHFA will not reduce the caps due to fluctuations due to the COVID-19 pandemic.
Deepen your knowledge about how to use financing to maximize the impact of affordable housing at the Novogradac 2021 Tax Credit Housing Finance Conference Dec. 2-3 at the Four Seasons Hotel Las Vegas.