Recursion Data Cited in Commercial Mortgage Alert Article on Fannie Mae Pullback from 35-Year Multifamily Mortgages

An article published in Commercial Mortgage Alert on June 9 stated that:“Fannie Mae will no longer offer 35-year amortization sched­ules on loans financing market-rate multifamily properties.”
 
They went on to state:“Loans with 35-year amortization schedules accounted for 26.5% of Fannie multifamily loans in May, the highest portion on record and up from 6.1% in the same month a year ago, according to data from Recursion Co., which has amortization data dating to 2016. The research firm also reported that Fan­nie notched $4.25 billion of multifamily business in May, down 14% from last year.”
 
The new policy takes effect on June 12. Loans with 35-year schedules providing support to affordable projects will continue to be offered. 
 
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