navycmdr
21分前
Boooooom ! - 2024 Freddie Mac Multifamily Volume Reaches $66 Billion,
Up 34% Year Over Year
January 15, 2025 at 11:00 am EST
https://www.marketscreener.com/quote/stock/FEDERAL-HOME-LOAN-MORTGAG-120786963/news/2024-Freddie-Mac-Multifamily-Volume-Reaches-66-Billion-Up-34-Year-Over-Year-48771957/
MCLEAN, Va., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced its 2024 production volume totaled $66 billion, a 34% increase over 2023. Creative, strategic shifts ahead of improved market conditions in the second half of the year resulted in $65 billion in multifamily financing and $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments in 2024. The company led the agency market in volume and met all its mission-driven affordable housing targets, supporting 507,191 affordable rental units across the United States while maintaining strong safety and soundness standards.
“Every day, we go to work to provide liquidity, stability and affordability to the multifamily market. In 2024, we not only met but exceeded our mission during a challenging year that made a tangible impact on countless lives,” said Kevin Palmer, head of multifamily for Freddie Mac. “By staying ahead of market shifts, we were well-positioned for effective execution in the latter part of the year. But our most important achievement was working with our Optigo® lenders, servicers, borrowers and investors to make quality, affordable rental housing available to more than half a million families nationwide.”
Freddie Mac data released today indicates that the company will achieve its 2024 Multifamily affordable housing goals set by the Federal Housing Finance Agency (FHFA). A total of 65% of 2024 production volume qualified as “mission-driven affordable housing,” exceeding the 50% goal set by FHFA.
More than 65% of goal-eligible units financed were affordable to low-income residents earning less than 80% of area median income (AMI) and more than 15% were affordable to very low-income residents with incomes no greater than 50% of AMI, surpassing both goals. In total, 93% of all units financed in 2024 were affordable at or below 120% of AMI.
Freddie Mac Multifamily’s Targeted Affordable Housing volume hit a record high in 2024, providing $17 billion in financing to support nearly 133,000 rent-restricted affordable units. Freddie Mac Multifamily supported the creation of affordable units for more than 23,000 families, the rehabilitation of units for more than 10,000 and preserved affordability without subsidy through Freddie Mac loan terms for nearly 11,000 families.
Forward commitments showed continued strength in 2024, driving the creation of 23,153 units of new affordable and workforce housing. Forwards provide certainty of financing by locking in loan terms in advance, allowing new construction or major renovations to advance and increasing the supply of affordable rental housing.
Also in 2024, Freddie Mac opened seven new highly flexible, longer term credit facilities, generating almost $2 billion in new funding, a 64% increase over 2023.
With $1 billion in LIHTC equity investments in 2024, Freddie Mac achieved its LIHTC equity Duty to Serve targets. Since 2018, Freddie Mac Multifamily has committed over $5 billion in LIHTC equity, ensuring over 33,000 units of affordable housing were created or preserved.
“Freddie Mac Multifamily’s 2024 achievements go beyond the numbers,” Palmer added. “Each unit we fund is a place for a family to call home. That’s why we continue to drive forward new ideas to meet our mission while celebrating past success. In 2024, we marked the ten-year anniversary of our Small Balance Loans and Tax-Exempt Loans programs, which have supported hundreds of thousands of affordable units in states nationwide. We are embracing the challenge of continuing to innovate in the next decade and beyond.”
Freddie Mac Multifamily is a national multifamily housing finance leader. Historically, more than 90% of the eligible rental units we fund are affordable to families with low-to-moderate incomes earning up to 120% of area median income. Freddie Mac securitizes more than 90% of the multifamily loans it purchases, transferring interest-rate risk, liquidity risk, and the majority of expected credit risk away from U.S. taxpayers to private investors.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More:
Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Melissa Silverman
703-388-7037
Melissa_Silverman@FreddieMac.com
chessmaster315
32分前
I think we are basically in agreement here, tho we differ on "how we got there". If you go to a NFL game, people come from almost everywhere to see the game, but fans are fans, no matter where they come from.
Our president elect has written a formal letter, some years ago, that he wants FNMA and Freddie released from ship. Regardless of your political affiliation, this is good for shareholders. And, now that our government is no longer "lame duck", but instead controlling the executive and house and senate as well, it's highly likely our new president will get his way.
Ackman pointed out that DJT was trying to release the twins, but ran out of time in his first 4 years. I think it Was more about lame duck, that is, when one party controls only one or 2 out of 3 of the executive, house and senate control.
DJT is likely to get his way, like him or not, with GOP control of the president, the senate and house.
chessmaster315
46分前
The weak hands will scare out and bail. It's exactly why Buffet. says to be fearful when others are greedy, and greedy while others are fearful. And, he defines the stock market as "a device by which money is transferred from the impatient to the patient".
It looks like a nice bullish pennant flag forming. While I probably won't be adding shares as I am mostly already fully invested, I may consider taking some profits on other shares, such as PLTR, SOFI, TSLA, to add more shares if it continues to drop.
chessmaster315
59分前
If you have not yet read these FOMC documents, you should do same. https://x.com/JoshRosner/status/1879539222580748551 There are many goodies in there and they are good for shareholders.
My lay interpretation summary is that the securities issued by Fannie and Freddie "are" government agency, and thus, this is why the guberment, even if they wanted to, can not bankrupt Fannie further confiscating shareholder equity, "because" Fannie and Freddie's massive debt (some 5 trillion, combined) would add to the deficit. In other words, agencies of the government can not be bankrupted. We don't bankrupt the "department of Agriculture" or the department of defense. Of course, it's not about bankruptcy with fnma and fmcc highly profitable. Instead it's about the government further confiscation of shareholder equity, and they can't do that without also taking on fnma and fmcc debt. That all changes when fnma and fmcs are privatized again, which of course is what we want.
wdereb79
2時間前
Well, this is a gamble. I believe it's a good bet, but we still have a few more rounds to go. My wife knows where we put every last cent of our money. I put $15,000 into FNMA. That's a lot of money for us, but it is money we could always afford to lose. With that said, FNMA is my BABY! I don't know why. I started researching and saw how the government came in and screwed everyone over. It's like rooting for the underdog in Game 7 of the championship game. Anyway, there was never going to be any hidden purchases of FNMA on my end. Like I said, my wife knows where every cent is lol. She didn't tell me to sell, but she definitely did not want me buying more shares. I could kick myself thinking about those discounted .50 cent prices that I was not allowed to purchase! Damn it woman!!!! Seriously, DAMN IT WOMAN! But . . . I guess I will keep her around for a little while longer. She has put up with all my shenanigans over the years. Anyway, I am currently +130% on my position. It only took over ten years to get here, but I am so happy. I am happy for all those that have stuck this out. There have been some tough times. Bleak times really. Honestly, I don't really have an exit strategy. I don't know if I ever will sell. What can I say . . . I love Fannie. I am going to see how this plays out. I am staying until the end, and I am willing to win or lose it all. LONG AND STRONG!
chxal
2時間前
Another Important Valuation Point(s).....
Two things - in order to prove their "entitlement" to the amount over the $190B + 10% interest and/or any warrants: 1. Govt needs to unseal the documents to prove there was no collusion, malice against shareholders, etc. and let the docs speak for themselves... they will prove if Gov't actually was acting in the best financial interests of their "wards" US- the shareholders or if they conspired just to take our revenues and profits for their own projects, etc. #2 - Govt should explain why the $50 Billion+ in settlements against ALL the big banks, JPM, Goldman, Citi, etc. DID NOT GO TOWARDS EITHER GSE CAPITAL or paydown of $190 B hostage taking.... Explain to the American people why this $50 B+ wasn't given back to the companies, but every penny of it was flushed away.....