Freddie Mac Financed its highest percentage of market share, 37 percent of the overall multifamily market in 2009, compared to 29 percent in 2008. Due to a contracting market, Freddie Mac had $16.6 billion in volume for its multifamily whole loan and bond guarantee business (multifamily mortgage settlements), compared to $24 billion in 2008. While the annual production volume declined, 2009 volume represents the third largest volume in Freddie Mac’s multifamily history. This volume includes Freddie Mac’s targeted affordable housing products, which finance apartments that receive some form of government subsidy. Freddie Mac’s multifamily transactions financed more than 250,000 apartment units, the vast majority of which are affordable to families earning low or moderate incomes.
“During the worst economic recession in a decade, we remained focused on providing liquidity to the market when most other sources were still nowhere to be found in 2009,” said Mike May, Senior Vice President of Multifamily for Freddie Mac. “While the multifamily market has contracted, we continued to finance a good percentage of deals.”