10 Years of SBL

This October marks 10 years since the launch of our Small Balance Loan (SBL) program. To honor this special occasion, we launched an SBL 10-year anniversary webpage to showcase some of the memories and accomplishments we’ve achieved together.  As we reflect on what the past decade has meant to all of us, one word continues to stand out.
 
OPPORTUNITY.
 
The Freddie Mac Multifamily SBL program was created out of the opportunity to bring liquidity and standardization to a highly fragmented and underserved segment of the multifamily market. Our impact was immediate and widespread. Lenders, sponsors, appraisers and engineers could all implement business plans around the certainty we brought to the market. The numbers we've put up together over the last decade is extraordinary.
 
The opportunity for those who have been part of SBL is equally as important as the mission of SBL. We can always debate our terms, credit or pricing, but it's undeniable that the thing we got right from the start is the people. Our people are the secret sauce that made this all possible. It's our differentiator. 
 
Many individuals still at Freddie Mac, who were previously part of SBL, were given the opportunity to take on larger roles, or leadership roles, with significant success. SBL certainly isn't always easy. It challenges us to think differently, to think end-to-end, to think creatively and meet the challenges of every moment. It is these skills that we developed together that led us to great success.  
 
As we look toward the future, it is exciting to see the opportunity that still exists. The needs and challenges in the market today are very different than those that existed when the program was first created in 2014. There will continue to be new and creative solutions to meet the market needs, balancing risks, economics, cycle times and much more. With the amount of talented people we have on our teams, there is no doubt that SBL is set up for success over the next 10 years and beyond.
 
With record volume coming through the door, it's hard to pause — but let's take a minute now to acknowledge and celebrate all that we've accomplished, together. We've achieved so much, and we should all be proud of what we've done. We look forward to seeing everyone's continued success, whether it's part of SBL or the opportunity it created for you.