February 02, 2016
I’m delighted that Freddie Mac is a top funder for targeted affordable housing — and want to thank our customers who helped make 2015 a stellar year.
In communities across the nation, more low-income families have found quality rental housing they can afford — as a direct result of the work we do every day with our business partners. With the affordable rental housing crisis in the U.S., our work is more critical than ever.
We settled more than $5 billion last year in targeted affordable housing business. About $1.3 billion of this went to multifamily bond credit enhancements, other guaranteed transactions, and Tax-Exempt Bond Securitizations (TEBS). Our volume also includes Cash Preservation loans, Tax-Exempt loans and 9% Low-Income Housing Tax Credit loans.
Our financing built and preserved affordable housing in 42 states plus the District of Columbia — from cities like New York City and Houston, to rural counties like Angelina County, Texas.
How did we achieve record production? We invested in our people and products to better serve our clients. Our growing team of specialists, in five offices around the country, developed new, innovative offerings to help preserve affordable housing. We also added to our full suite of tax-exempt executions.
This year, we look forward to doing even more volume in targeted affordable — as part of our business, our mission and Freddie Mac’s commitment to moving housing forward.
— David Leopold, Vice President, Affordable Housing Production
Through our $4 million funding, this low-income property in Baltimore will continue to serve those most in need. The property includes a homeless shelter, supportive housing apartment units, and spaces for nonprofits that serve residents.
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