Freddie Mac to originate small apartment mortgages

As part of its mandate to support affordable housing, Freddie Mac is building a business to originate small apartment loans, Bloomberg reports.

Head of ​m​ultifamily ​o​perations 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.

Read more