Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Freddie Mac to originate small apartment mortgages
October 10, 2014
As part of its mandate to support affordable housing, Freddie Mac is building a business to originate small apartment loans, Bloomberg reports.
Head of multifamily operations at Freddie Mac David Brickman tells Bloomberg that the mortgage giant plans to originate as much as $1 billion of such debt in 2015. The product is part of an initiative for Freddie Mac to move into financing manufactured-housing communities and provide affordable options for low-income families.
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