Freddie Mac to Work with Experienced MHC Lenders

Regarding Freddie Mac’s decision to begin purchasing and securitizing manufactured housing community (MHC) loans as posted here May 1, 2014, reports these will be commercial loans made to the community owners. David Brickman, Freddie Mac Multifamily executive vice president, said, “Manufactured housing communities are an affordable housing option for many low-income individuals, especially in rural communities where affordable apartments are less prevalent. Our financing can help to increase debt capital to rural areas and help provide housing options for underserved populations. Nearly half of nation’s manufactured homes are located in rural, non-metropolitan areas.” Initially the government-sponsored enterprise (GSE) will work with experienced MHC lenders and add other lenders farther along. As MHProNews understands, it plans to deal with professionally-managed communities. ##

(Photo credit: TriStar Estates)

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