Freddie, Fannie Multifamily Loan Purchase Caps For 2023 Drop to $75 Billion

Thursday, November 10, 2022 - 1:15pm

The Federal Housing Finance Agency (FHFA) today announced that the 2023 multifamily loan purchase caps for Freddie Mac and Fannie Mae will be $75 billion each. That is $3 billion less than the 2022 goals, which is attributed to an expected contraction of the multifamily originations market. The FHFA will adjust upward if the market warrants, but will not reduce the caps. At least 50% of the Fannie and Freddie multifamily business must be mission-driven affordable housing, but FHFA will no longer require that 25% of Freddie’s and Fannie’s multifamily business be affordable at 60% of the area median income or below. FHFA also released a fact sheet and document explaining the multifamily definitions.

Hear more about the affordable multifamily market at the Novogradac 2022 Tax Credit Housing Finance Conference, Dec. 1-2 in Las Vegas.