Freddie mac celebrates its 50th anniversary this week, highlighting the $ 10 trillion funding the company has provided to the US real estate market since its inception.
Freddie Mac posted a interactive map which allocates its state funding for single-family homes and multi-family rental housing that it has financed since 1970. Of that $ 10 trillion, the vast majority – $ 9.8 trillion – has been used to finance single-family loans over the past 50 years, according to data.
The map also shows the 20 million affordable housing units that Freddie Mac has funded since 1990 and the 5.4 million affordable rental units the company has funded since 2010.
“As our company celebrates 50 years, we stand on the threshold of a new stage in our evolution as an organization, leading an industry ready for fundamental transformation and playing a critical and stabilizing role for a period of time. of extreme volatility for our country, ”said David Brickman, CEO of Freddie Mac.
Although Freddie Mac commemorates his birth amid a difficult era for America, the company said in a statement Monday that the current situation only underscores its mission to support a stable housing market.
“Some have lamented that our company is reaching this milestone during a global pandemic. However, I think this is an important reminder of our critical mission and the vital countercyclical role for which we were created, ”said Brickman. “Fifty years ago, our founding documents called on us to provide liquidity, stability and affordable prices to the US real estate market in any economic climate. Carrying out this mission coast to coast, in good times and bad, is exactly what we do, and we always have.
Under the direction of Federal Housing Finance Agency, Freddie Mac and Fannie Mae have extended their moratorium on foreclosures and forbearance agreements as part of helping consumers during the pandemic.
Additionally, Freddie Mac is the sponsor of the HousingWire Forbearance FAQ. landing page, which includes the latest forbearance news and provides information for homeowners to better understand their forbearance options.