Fannie Mae and Its Lenders Financed Nearly $17 Billion in Multifamily Mortgages 2010

Fannie Mae, which provides multifamily mortgage financing for workforce rental housing, announced that in 2010 the company, in conjunction with its lender and housing partners, provided $16.9 billion in debt financing for the rental housing market. The financing covered approximately 2,300 multifamily mortgage loans for 306,000 rental units across the country.

Ken Bacon, executive vice president of Fannie Mae’s multifamily mortgage business, added that approximately 91 percent of the multifamily units financed in 2010 were affordable to families at or below the median income of their communities.