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Fannie Mae has 'best year ever' in multifamily during 2007

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Officials at Fannie Mae said they are optimistic that the fundamentals of multifamily remain solid for 2008 even as the government-sponsored enterprise declared 2007 its best year ever in multifamily financing. Announced during MBA's 2008 Commercial Real Estate Finance (CREF)/Multifamily Housing Convention in Orlando, FL, in February, Fannie said the company, through its lender and housing partners, financed a record $60 billion in multifamily rental housing in 2007. Approximately 88% of the multifamily units financed by Fannie Mae in 2007 were affordable to families at or below the median income in their communities and 59% of all multifamily loans were made in underserved markets, according to the company.

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