While Fannie is committed to $10 billion this year, which is 25 percent of its $40 billion cap, and Freddie has $25 billion in the pipeline, more than 80 percent of its $40 billion allotment, Fannie Mae’s Manufactured Housing Community loans are exceptions from the volume cap allocation.
Similarly, Freddie’s Targeted Affordable Housing and Small Balance (under $5MM) loan products, as well as Fannie Mae’s DUS Small Loan and Multifamily Affordable Housing Community loan products are all exempt from the volume cap. Says Ballard Spahr, “These loans, typically for underserved markets and property types, may continue to flourish with the agencies, and are exactly the types of financing that the GSE’s and FHFA are committed to providing.” ##
(Photo credit: Yahoo–Reuters/Jonathan Ernst–Fannie Mae headquarters)
