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Agency Lending: Updated Guides, New Caps for 2023

Changes for Multifamily Lenders and Borrowers in 2023

Fannie Mae and Freddie Mac (the Agencies) recently released updated Multifamily Guides which included a few changes for lenders and borrowers. In addition, the Federal Housing Finance Authority (FHFA), has reduced agency lending caps and revised some definitions related to affordable housing, affecting which loans will qualify as “mission-driven.”

In this article, I discuss recent guide updates and revisions to “mission-driven” criteria.