Fannie Mae Expands Green Lending, Housing Innovation Platforms
Two weeks ago, the Mortgage Bankers Association held its annual CREF/Multifamily Housing Convention & Expo in San Diego. There, Jeffery Hayward—who heads up Fannie Mae’s multifamily mortgage business—spoke to Multi-Housing News. The following conversation details the GSE’s recent and upcoming initiatives, as well as impactful trends and important milestones in 2018. (more)
Jeffery Hayward: “To address the country’s affordable housing shortage, Fannie Mae announced its Sustainable Communities Innovation Challenge last December and closed the first phase of submissions in February. As part of a two-year investment, we put up $10 million to support affordable housing solutions and, working with an expert panel, will subsequently partner with selected applications. Focusing on economic opportunity and housing, we’ve been seeking great ideas for sustainable communities that expand employment, health, wellness and education opportunities for residents. We think we should be part of the solution, but admit that we don’t have all the answers, so we want to partner with people who might.
So far we’ve received submissions from non-profits, for-profit companies, individuals—a potpourri of applicants. There’s been a great deal of excitement. It’s important that we bring in people from outside of the housing industry to infuse our group with new ideas and fresh perspectives.”