Fannie Mae provided more than $55 billion in financing to support the U.S. multifamily market in 2024, the firm reports.
That includes more than $6.3 billion in multifamily affordable housing, $4.7 billion in small loans, $1.3 billion in manufactured housing, and $6.6 billion in structured transactions, the company says in a release.
Notably, the company saw a 101% year-over-year gain in its green financing loan production, up from $7.5 billion in 2023 to $15.1 billion in 2024.
Additionally, Fannie Mae committed $1.2 billion of total forward commitments in 2024 – up from $326 million in 2023 – enabling the development and rehabilitation of additional affordable housing supply by providing certainty and stability for lender, borrower, and builder pipelines.
The company also has committed approximately $4 billion in net equity to low-income housing tax credit (LIHTC) investments since re-entering the LIHTC market in 2018.
Through these investments, Fannie Mae has enabled the creation and preservation of tens of thousands of affordable rental housing units and invested in hundreds of properties in communities throughout the U.S.
In 2024, Fannie Mae advanced its sponsor-dedicated workforce and sponsor-initiated affordability initiatives for multifamily borrowers, offering private-market financing mechanisms to create and preserve more workforce and affordable housing.
Additionally, Fannie Mae enhanced its expanded housing choice pilot initiative to enable more multifamily borrowers to increase rental housing opportunities for housing choice voucher holders across the country.
“With the continued support, commitment, and adaptability of our DUS lenders, Fannie Mae remained a leading and stable source of multifamily mortgage financing nationwide during another challenging year for the market,” says Rob Levin, senior vice president and multifamily chief customer officer, Fannie Mae. “We are grateful to our partners for their feedback on how we can increase liquidity to best support the multifamily housing industry. Together, we finished the second half of 2024 strong, and we have carried that momentum into 2025 to unlock new opportunities for lenders, borrowers, and investors.”
The top three multifamily producers for Fannie Mae in 2024 include Walker & Dunlop, LLC ($7.04 billion); Berkadia Commercial Mortgage, LLC ($6.25 billion); and CBRE Multifamily Capital, Inc. ($6.17 billion).
Photo: Giorgio Trovato
