Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Freddie Mac plans to purchase, secure multifamily loans
WASHINGTON (5/5/14)--The multifamily housing unit of Freddie Mac plans to begin purchasing and securitizing Manufactured Housing Community (MHC) loans in a bid to increase available funding for affordable housing in rural areas, Freddie Mac reported last week.

Freddie Mac said stabilized, high-quality, professionally managed communities owned by experienced operators will be eligible for the program. Loans will be made to community owners. Community land, infrastructure, amenities and community-owned rentals will serve as collateral for securing MHC loans, Freddie Mac added.

"Manufactured housing communities are an affordable housing option for many low‐income individuals, especially in rural communities where affordable apartments are less prevalent," said David Brickman, executive vice president for Freddie Mac Multifamily Business. The financing, he added, will help to increase debt capital to rural areas and help provide housing options for underserved populations. "Nearly half of nation's manufactured homes are located in rural, non-metropolitan areas," Brickman said.

For more information, use the resource link.
Other Resources

Freddie Mac release
RSS print
News Now LiveWire
3 Atlanta fed judges recuse themselves from Home Depot data breach suits via @AtlBizChron http://t.co/lfPgOXZ7sO
11 hours ago
How may falling gas prices impact the U.S. economy? Find out tomorrow in #NewsNow #Market http://t.co/Q9ec9DGLDN
12 hours ago
News of the comp. for tomorrow: Big bank unveils plans for massive $6.5 billion new headquarters #NewsNow #Market
14 hours ago
Consumer confidence surges to 7-year high #NewsNow #Market http://t.co/fMEENGuWPi
14 hours ago
Charlotte Cash, CEO of @COFCU , is engaging members by producing videos on various subject of financial interest to members.
15 hours ago