September 9, 2014 --There's never been a more critical time to finance affordable (rent-restricted) properties. With today's rising rents, stagnant wage growth for most households, and limited supply of rent-restricted properties, it's more important than ever to preserve affordable housing.
Our Multifamily Affordable Housing (MAH) business has long been an important part of Fannie Mae's mission of providing affordable, quality rental housing to low-income individuals and families. It's also been a good, sustainable business for Fannie Mae. Multifamily remains committed to win your affordable loans. Here are four reasons why you should show us your affordable transactions, today:
REASON #1: The Best Price and Execution in Town – Reaching out to your MAH Deal Team may be the most rewarding call you can make right now, for you and for your customers. These very competitive prices are better than you've seen to date, and only available with a 2014 execution.
REASON #2: A Quote Within 36 Hours – With our new Soft Quote process, you can be ready to give your borrower the best and fastest quote available. A fast quote can give you the competitive edge to win your deal.
REASON #3: The Most Knowledgeable Team – Our dedicated team of affordable experts have on average 15 years of experience and stand ready to help you execute the most complex of transactions – whether it's a transaction with FHA Risk Sharing, Section 8 rent subsidies, or one that includes Low Income Housing Tax Credits (LIHTC).
REASON #4 A Demonstrated Commitment – Fannie Mae has been financing affordable loans for more than 25 years and understands the importance of providing liquidity to this market segment. Since 2009, we have provided more than $11 billion to finance over 220,000 units of affordable rental housing.
Our competitive financing terms, good pricing and ability to negotiate the subordination agreement with the California Tax Credit Allocating Agency helped us win an $18.36 million, 203-unit MAH variable-rate transaction in Oakland, CA. Fannie Mae's ability to provide a quick hard quote and a substantial discount to grid pricing helped us win a $10.3 million MAH transaction in Santa Rosa, CA. Let us take a look at your deals! Contact your MAH Deal Team today and close your next affordable transaction with Fannie Mae. Again, our aggressive pricing is only available through year-end.