Freddie Mac

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

Freddie Mac Multifamily announced four vice presidents: Geri Borger Urgo is now vice president, production & sales, overseeing the Southeast and Northeast regions. Michael Case is now vice president, multifamily capital markets, overseeing all multifamily loan pricing functions. Catherine Evans is now vice president, Small Balance Loan (SBL) underwriting, overseeing the SBL underwriting team. Amanda Nunnink is now vice president, Multifamily investor relations, leading the team that markets the multifamily securities platform. 

Chairman David Perdue (R-GA) and Ranking Member Bob Menendez (D-NJ) of the Senate Banking subcommittee on Housing, Transportation, and Community Development Subcommittee introduced S.1463, a bill to establish a scorekeeping rule to ensure that increases in guarantee fees of Fannie Mae and Freddie Mac shall not be used to offset provisions that increase the deficit.

This American Banker article explores the remarks from President Trump at the recent National Association of Realtors event. “This is a pretty urgent problem.  We’re doing well with it now… We have many geniuses looking at it and we’ll figure something out.”

At the Mortgage Bankers Association conference, Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria said “ while I’m committed to working with Congress, I’m not going to wait on Congress.”

RED Mortgage Capital announced the closing of a $60 million, 18 property portfolio in Union City, NJ through the Freddie Mac OptigoSM Small Balance Loan (SBL) program. The financing was for the acquisition of the multifamily properties, which include 481 units of affordable housing.

RED Mortgage Capital announced the hire of D. Edward Greene as Chief Underwriter for Affordable Housing. Greene joins RED from Freddie Mac, where he most recently served as Senior Managing Director of Underwriting and Credit. In that role, Greene focused on Freddie Mac’s Targeted Affordable Housing and Specialty Products. 

The Affordable Housing Tax Credit Coalition, of which NH&RA is a member, sent a letter to the Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria to welcome him to his new role and thank him for his comments during the confirmation process on promoting access to affordable housing, retaining the Government Sponsored Enterprises’ (GSE) […]

On April 4, 2019 the Senate voted 52-44 to confirm Mark Calabria as the director of the Federal Housing Finance Agency (FHFA).

The Federal Housing Finance Agency (FHFA) announced the authorization of disbursements from Fannie Mae and Freddie Mac to the National Housing Trust Fund (NHTF) and Capital Magnet Fund (CMF). The NHTF will receive $244.86 million and the CMF will receive 131.84 million.

On March 26 and 27 the full Senate Committee on Banking, Housing and Urban Affairs held hearing on Chairman Mike Crapo’s (R-ID) Housing Finance Reform Outline. At the March 26 hearing Chairman Crapo said he wants to “bring to a close the conservatorship era.” Former Acting FHFA Director Edward DeMarco stated that “the outline captures the consensus elements of prior reform proposals and serves as a solid workable foundation from which to develop legislation.” At the March 27 hearing Chairman Crapo said he “considers Housing Finance Reform to be a top priority for the Banking Committee this Congress” and that “the status quo is simply not a valid viable option.”

A Multifamily in Focus research paper released by Freddie Mac shows that the Opportunity Zones tax incentives will likely lead to a significant influx of capital to multifamily investments in Opportunity Zones. The research paper compares a hypothetical investment under the tax structures offered by both traditional and Opportunity Fund circumstances.

President Trump signed a memorandum that directs HUD and Treasury to draft administrative and legislative options for housing finance reform to be submitted to the President for approval as soon as practicable. HUD will prepare a reform plan for the housing finance agencies it oversees, and Treasury will prepare a reform plan for Fannie Mae […]

Freddie Mac announced that Donald Layton will retire as Chief Executive Officer (CEO) and that the Board of Directors has appointed David Brickman to succeed him effective Monday, July 1. Mr. Brickman will become a member of the Freddie Mac Board of Directors at that time.