2024 was impressive — no matter how you look at our partnership and its results. As you saw in Kevin Palmer’s message, we funded $66 billion — a number we would have thought impossible earlier in the year. We topped $1 trillion in Multifamily funding, a milestone that should make everyone at Freddie Mac and all our Optigo® lenders, servicers and partners proud. We hit a record in rent-restricted, affordable funding. The list goes on… 

Yet above all, most importantly, we made a real, concrete difference in the lives of thousands of renters and their families. Across the nation, in rural farming communities, on tribal lands, in big cities — together, we made home possible and created possibilities.

We owe these successes to our Optigo lenders, borrowers, LIHTC syndicators and our talented staff — creating better alignment thanks to our strong partnerships.

2024 Highlights

Here are key highlights of how we fulfilled our mission and provided liquidity, stability and affordability to the markets:

  • We financed more than half a million rental units — the vast majority, 93%, affordable at or below 120% area median income.
  • A record high of more than $17 billion supported nearly 133,000 rent-restricted affordable units.
  • We funded $2.8 billion in forward commitments and $1.5 billion in forward conversions — that’s 36,000 units of new or rehabilitated affordable housing entering the market.
  • 92% of our Small Balance Loans was mission-driven workforce housing.
  • We opened seven new highly flexible, longer term credit facilities, generating almost $2 billion in new funding — a 64% increase over 2023.

  • Our record $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments helped underserved people and communities where it’s needed most:

    In Los Angeles, that means permanent supportive housing for young people with disabilities who experienced homelessness, including those leaving foster care or mental health facilities.

    In our backyard, in Arlington, Virginia, that means a partnership with the county and Amazon to keep naturally occurring affordable housing just that — affordable — while improving the property. And in nearby McLean, it means buildings designed to receive an EarthCraft Multifamily Gold certification, constructed with sustainable and durable products to ensure the long-term viability and affordability of the community.

  • Drove efficiency by ensuring lender real-time focus on transactions that hit the strike zone, while also introducing lenders to new, key metrics to further improve the quality of our execution — metrics like time to both quote and executed loan application, plus quotes per inflow, app and loan funding.

    One critical result from our productivity focus: improved year-over-year hit rates of 6% across all products. This is a meaningful result that tells us we're on the right track.

    We’re continuing to invest in platform efficiency and performance transparency in 2025 — and believe that together with our lenders we can turn our performance into a distinct production advantage going forward.

2024 Top Lenders

And now, queue the drum roll here … We’re proud to recognize our top lenders.

To see full rankings, check out our customer appreciation page.

Top Lenders by Volume

  • Overall: Berkadia 
  • Conventional: JLL
  • Targeted Affordable Housing: Berkadia
  • Small Balance Loans: CBRE
  • Seniors Housing: Wells Fargo
  • Student Housing: Newmark
  • Manufactured Housing Communities: PGIM

Mission Makers

  • Low-Income Housing: Berkadia
  • Very Low-Income Housing: Berkadia
  • Low-Income Housing (5-50 units): CBRE 
  • Structured Products: First Foundation
  • Workforce Housing Rent Preservation: Arbor
  • Facility Products: Capital One 
  • Forward Rate-Locks: Merchants Capital
  • Rural Duty-to-Serve LIHTC Syndicator: RBC Capital Markets

On behalf of my team, and all of Freddie Mac Multifamily, thank you for being great partners last year! We’re so proud of what we have accomplished together and look forward to working alongside all of you in 2025 and beyond!