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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