Earlier this month Freddie Mac announced that it has reentered the Housing Credit market with a new fund with Enterprise Community Investment. The fund will invest as much as $100 million and will focus on areas and transactions that have been underserved over the past decade, such as rural communities, properties financed with 4 percent Housing Credits, and developments that provide intensive supportive services to their residents. The fund has already closed its first transaction: Wintergreen West, which will provide 40 apartment homes for residents of Summit County, Colorado, a rural area 75 miles west of Denver. Freddie Mac was a large part of the Housing Credit equity market prior to conservatorship in 2008. Last year the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac would be allowed to reenter the Housing Credit market as equity investors. Each has an annual limit of $500 million, a 5 percent market share each, and is directed to focus on areas that FHFA has identified as underserved markets to complement the agency’s Duty to Serve priorities.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing