2024 Multifamily Lending Cap
Today, the Federal Housing Finance Agency (FHFA) announced that Freddie Mac’s multifamily loan purchase cap will be $70 billion for 2024, with at least 50% of our loan purchases to be “mission-driven.”
FHFA has also updated the criteria for the loan purchase cap so that certain loans that preserve affordability for workforce housing via the loan agreement are exempt from the cap.
These requirements align with our ongoing commitment to support the multifamily market with consistent liquidity while promoting affordable and equitable housing. Given the headwinds the multifamily market is currently facing, our focus on these objectives is especially important to renters, borrowers, investors, and our Optigo® lenders.
Also, as in years past, FHFA noted they will continue to monitor the multifamily mortgage market and will update the multifamily cap and mission-driven requirements if adjustments are warranted. However, they also indicated they won’t decrease the cap if the market is smaller than projected.
As always, we look forward to working closely with our Optigo lenders and our investors to deliver on our market and mission objectives. We will be sharing more details about our 2024 priorities before the end of the year.
Thank you for your continued partnership.