Multifamily Ramps Up Support of Underserved Markets
December 18, 2017
Today the Federal Housing Finance Agency (FHFA) published our final plan for Duty to Serve Underserved Markets — which shows how we’ll finance more rural and manufactured housing and preserve more affordable housing for renters nationwide.
“For decades, our innovations have brought liquidity, stability and affordability to the mortgage markets, and Duty to Serve is an important continuation of these efforts,” said David Leopold, vice president of Targeted Affordable Sales and Investments.
You’ve seen innovative new offerings from us in just the past few months—look for even more to come in the year ahead. We’re helping renters find decent homes they can afford with the launch of our tax-exempt loan (TEL) securitizations, TAH Express and our evolving TEL product line, and the development of Single-Family Rental financing. These are just a few of the creative ways we’re financing and preserving affordable housing.
“Freddie Mac is uniquely suited to tackle some of America’s most persistent housing problems, and we look forward to deepening this work,” said Leopold.
Multifamily plan highlights include:
- Re-entering the Low-Income Housing Tax Credit (LIHTC) equity market
- Increasing liquidity for developers that qualify for federal subsidies, including Section 8 vouchers
- Preserving affordable units by supporting the U.S. Department of Agriculture’s (USDA) housing programs
- Expanding support for manufactured housing communities and solutions that increase tenant protections