Freddie Mac Scored $28.8B In Multifamily Volume In 2012

Posted by Orb Staff on January 30, 2013 No Comments
Categories : Commercial Mortgage

13202_freddie-mac Freddie Mac Scored $28.8B In Multifamily Volume In 2012 Freddie Mac generated a record $28.8 billion in volume for its multifamily business in 2012, a 42% increase compared to $20.3 billion in 2011. The previous multifamily business activity record was $24 billion in 2008.

During 2012, 54% of Freddie Mac's total loan purchases or credit enhancements were refinances and 40% were acquisitions. Freddie Mac purchased about $650 million in seniors housing mortgages and more than $1.7 billion in student housing mortgages last year, and it recorded the lowest delinquency rate in two years, at 19 basis points as of Dec. 31, 2012.

‘It was a phenomenal year for us and the sellers and servicers in our network,’ says David Brickman, senior vice president of Freddie Mac's multifamily business. ‘We achieved record volume while maintaining strong credit discipline and providing essential liquidity to the growing multifamily mortgage market. In the fourth quarter we completed about 33 percent of our yearly volume – approximately $10 billion in multifamily mortgages.’

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