Enterprise Expands Participation In Fannie Program

Columbia, Md.-headquartered Enterprise Community Investment Inc. has expanded its Fannie Mae lending platform to include products for the acquisition, refinance or rehabilitation of market-rate multifamily housing.

Enterprise's multifamily lending portfolio, which includes mortgages for rehab or new construction of affordable housing, has resulted in more than $543 million in financing to create approximately 16,000 apartments and homes using the Fannie Mae product line.

‘With the expansion of our special Fannie Mae lending program, we can now help both affordable and market-rate multifamily housing owners acquire, refinance or rehab and potentially reduce operating costs," says C. Lamar Seats, senior vice president with the company. "Refinancing proceeds can be used towards weatherization improvements, green retrofits or preservation of family and seniors housing.’

SOURCE: Enterprise Community Investment Inc.

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