November 08, 2018
The Federal Housing Finance Agency (FHFA) recently announced the 2019 multifamily lending cap will remain at $35 billion. As in prior years, FHFA will review its estimates of the multifamily loan origination market size on a quarterly basis and may increase the caps if necessary. Loans in certain affordable and underserved markets continue to be excluded from the cap.
For 2019, FHFA made the following requirement changes for Green Up® and Green Up Plus® loans to be excluded from the multifamily cap:
We’re expecting additional details on these changes and will communicate them as soon as they’re available. We’ll also provide training after FHFA publishes the 2019 Scorecard.
FHFA has implemented a data-driven approach to designate markets where units affordable to cost-burdened renters at certain area median income levels will be excluded from the multifamily cap on a pro-rata basis. This new process will help ensure that exclusions from the cap are focused on markets where renters are most cost-burdened, resulting in less variation in market designations and greater stability.
Additional details will be available in FHFA’s 2019 Scorecard.
Have a comment or question? Email us to let us know what's on your mind.