Walker & Dunlop Commends FHFA's Focus on Affordable Housing in 2021 Multifamily Scorecard

Rhea-AI Summary

Walker & Dunlop commends the Federal Housing Finance Agency's (FHFA) announcement of the 2021 multifamily lending caps, allowing Fannie Mae and Freddie Mac to lend a total of $140 billion. Notably, the requirement for affordable lending increased from 37.5% to 50%. Chairman and CEO Willy Walker expressed that these measures are crucial amid the pandemic, supporting landlords in keeping renters in their homes. Walker & Dunlop has lent over $17 billion in affordable housing over the last three years, aligning with the FHFA's enhanced focus on affordable lending.

Positive

• FHFA announced 2021 lending caps totaling $140 billion, supporting liquidity in the multifamily sector.
• Increase in affordable lending requirement from 37.5% to 50% is favorable for Walker & Dunlop's business focus.
• Walker & Dunlop has provided over $17 billion in financing for affordable properties over the past three years.

Negative

• None.

BETHESDA, Md., Nov. 17, 2020 /PRNewswire/ -- Walker & Dunlop, Inc., one of the largest providers of capital to the multifamily industry and the largest Fannie Mae DUS lender in 2019, today commented on the Federal Housing Finance Agency's (FHFA) recent announcement of the 2021 multifamily lending caps for Fannie Mae and Freddie Mac. The FHFA announcement allows the GSEs to lend up to $70 billion each in 2021, for a total opportunity of $140 billion, with at least 50% of lending to be designated as affordable.

"At a time when millions of Americans are protecting themselves from the pandemic in the shelter of their homes, it is encouraging to see the FHFA establish 2021 multifamily lending caps of $140 billion for the GSEs," stated Walker & Dunlop Chairman and CEO Willy Walker. "As landlords across the country work diligently to keep renters with financial hardship in their homes, we are pleased to see FHFA establish lending levels for the GSEs that will continue to ensure adequate liquidity throughout the coming year."

Mr. Walker continued, "Of note in the 2021 lending cap announcement from the FHFA was raising the percentage of affordable lending that Fannie Mae and Freddie Mac must do from 37.5% to 50%. Walker & Dunlop is keenly focused on the affordable housing space, having lent over $17 billion over the past three years with the GSEs on affordable properties, and we see this increased focus by FHFA as positive for the market and our business."

About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.

View original content:http://www.prnewswire.com/news-releases/walker--dunlop-commends-fhfas-focus-on-affordable-housing-in-2021-multifamily-scorecard-301175284.html

SOURCE Walker & Dunlop, Inc.

FAQ

What are the 2021 lending caps for Walker & Dunlop's multifamily sector?

The FHFA set the 2021 multifamily lending caps at a total of $140 billion for Fannie Mae and Freddie Mac.

How much has Walker & Dunlop lent in affordable housing recently?

Walker & Dunlop has lent over $17 billion in affordable housing over the last three years.

What is the new requirement for affordable lending set by the FHFA?

The FHFA raised the affordable lending requirement for Fannie Mae and Freddie Mac from 37.5% to 50%.

What is the significance of the FHFA's announcement for investors in Walker & Dunlop (WD)?

The FHFA's announcement enhances liquidity in the multifamily market, potentially benefiting Walker & Dunlop's business and investor confidence.