Freddie Mac Celebrates 50th Birthday With Multi-Family Milestones

Freddie mac celebrates its 50th anniversary with a new data visualization site which breaks down state-by-state statistics of mortgage transactions that the company has helped facilitate.

David Brickman | Photo credit: Freddie Mac

Since the publicly traded company was established by a congressional charter in 1970, it says it has helped finance more than 10.7 million multi-family rental units and has helped finance more than $ 618.6 billion. dollars in multi-family loan financing since 1993. Of the multi-family rental units it has helped finance, more than $ 5.4 million were rated affordable.

“Milestones provide an important opportunity to take a break, take stock of the past and anticipate the challenges and opportunities that the future holds,” said David Brickman, CEO of Freddie Mac, in a statement. “Over the past 50 years, in good times and bad, we’ve played a vital role in providing homes to nearly 80 million homeowners and tenants. “

“From cutting edge innovations and market stability to affordable housing for families across the country, everyone at Freddie Mac is focused on moving the industry forward.

The government-sponsored entity – which securitizes mortgages and provides liquidity to the mortgage market while aiming to keep rates affordable – says it has provided more than $ 10 trillion in financing to the US real estate market since 1970.

He has helped “make home possible” almost 80 million times. Freddie Mac is not a direct mortgage lender, rather he buys loans from lenders to provide liquidity.

In the single-family home business, Freddie Mac says he’s helped finance about 67 million single-family homes with nearly $ 9.8 trillion in single-family loan financing. Of these homes, 20 million were deemed affordable. The company also claims to have served 5.6 million first-time buyers since 1990 and avoided 1.9 million foreclosures since 2001.

However, not all eras in the company’s history are cause for celebration. While the new site gives a detailed state-by-state breakdown of all the transactions and volume that Freddie Mac helped facilitate, there is no mention that the publicly traded company had to be bailed out by taxpayers after the crash. 2008 financial year and taken under government supervision.

The company has since paid off its taxpayer bailout and the Trump administration has spoken of ending the trusteeship and opening the charter under which Freddie Mac operates to allow private sector competition.

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