American Banker (07/10/08) P. 6; Colter, Allison Bisbey
Despite the challenges of the credit crisis, Fannie Mae has announced plans to increase its purchases of small multifamily loans for the purpose of expanding affordable housing opportunities--particularly in the senior and military housing segments. The government-sponsored enterprise agreed to buy multifamily loans worth up to $3 million, with the ceiling rising to $5 million in the priciest housing markets. Its purchases of military housing bonds are expected to rise 30 percent this year to $1 billion, and Fannie Mae also will significantly increase the debt financing that it offers on a day-to-day basis in the senior housing arena.
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