Fannie attributed the third-quarter decline to higher mortgage rates and seasonal factors.
We have continued to supply consistent liquidity to the multifamily market, with issuance topping $21.5 billion so far this year, said Manny Menendez, senior vice president of multifamily capital markets.
Fannie Mae and Freddie Mac approved lenders are continuing to originate multifamily loans, while the Federal Housing Administration MF program has been shut down. Congress must approve new funding for FHA for it to reopen.
Fannie also completed two guaranteed multifamily structured deals known as GeMS during the third quarter totaling $1.7 billion. Both deals included floating-rate tranches structured from fixed-rate collateral to help investors adjust to the rising rate environment, Menendez said.