Multifamily Investors Take Note - New Rules Proposed by FHFA

It's obviously still a major government focus to spur the housing market, but there's also interest in helping low income renters as well. Providing housing is the goal, so the FHFA is proposing new rules for Fannie Mae and Freddie Mac in the purchase of multifamily mortgages.

The full text of the news release is below, but the gist of the proposal is to set specific goals for Fannie Mae and Freddie Mac in purchasing loans in three specific areas of multifamily properties of 5 to 50 units:

• housing for low income families
• housing for very low income families
• housing for low income/high minority/disaster areas

This initiative is interesting from an opportunity standpoint, as there are more apartment & multifamily foreclosures showing up in many markets. Investors may find that a bargain can be had, and financing wheels greased by these new proposed rules.