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
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
7 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
8 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
10 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
10 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
10 hours ago