Newmark FHFA Scorecard Information - Flipbook - Page 1
FHFA’S 2024 Multifamily Loan Purchase Caps
Continue to Focus on Mission-Driven Housing
With the 2024 FHFA scorecard out and multifamily loan purchase caps for Fannie Mae and Freddie Mac set at $70
billion each, mission-driven housing remains the priority. Fannie Mae’s Sponsor-Dedicated Workforce (SDW)
Housing and Freddie Mac’s Workforce Housing Preservation programs may be exempt from the volume cap and
offer creative solutions for affordable housing through voluntary rent restrictions. Sponsors are provided favorable
financing when they enter a loan agreement to create or preserve rents on a minimum of the units affordable to
renters earning 80% of the Area Median Income (AMI) in standard markets and higher AMI levels in higher cost
markets for the life of the loan.
PRODUCT OVERVIEWS:
Fannie Mae Sponsor-Dedicated
Workforce (SDW) Housing
Freddie Mac Workforce Housing
Preservation
• Available on all fixed and floating rate* loans
• Available on all fixed-rate loans with term
with five to 30-year terms.
• Floating rate loans must have a minimum of
a two-year lock out.
• Preservation period expires with loan payoff
or maturity.
• Minimum of 20% of units restricted to
tenants earning up to 80% of AMI or, in
certain metros, up to 100% - 120% of AMI.
• Rent restrictions to be governed by the
Fannie Mae Loan Agreement.
• Borrower must annually submit rent rolls to
the Servicer and a certification of
compliance with the SDW-rent restrictions
via the Supplemental Annual Loan
Agreement Certification; no income tests
CONTACT
required.
greater than or equal to seven years.
• Preservation period is the lesser of the term
of the loan or 10 years.
• Percentage of set-aside units and rent
affordability level may vary by market, with a
programmatic minimum of 20% of units.
• Rent restrictions to be governed by the
Freddie Mac Loan Agreement.
• Annual borrower certification of
straightforward rent monitoring, ensuring
continued affordability; no income tests
required.
