March Madness came early this year -- to Chicago, Illinois when Fannie Mae's entire Multifamily Affordable Housing team hosted its annual meeting on November 13. Over 100 representatives from all our Lenders attended. Our team got the chance to meet with customers, celebrate the great year we had, recognize our Lenders for being great partners, and focus on how we can do more affordable business together. With all that, we'd say MAH Madness was a slam dunk!
In case you missed it, here are some game highlights and links:
Our Affordable Lenders continue to put big numbers on the board. The MAH team is on pace for another record year of production volume, with $3.9B delivered through Q3 2017. Production like that isn't a layup -- it takes hard teamwork and dedication, and we're grateful to all of you for your strong efforts. Fannie Mae and the MAH team have been hard at work finding new ways to continuously improve your customer experience with product enhancements, new initiatives, and a new affordable webpage.
After kicking off the meeting with an update on production, we jumped right into the second quarter with a panel on Fannie Mae's Healthy Housing Reward™, a new initiative that provides financial incentives for borrowers to incorporate healthy design features in their newly constructed or rehabilitated multifamily affordable rental properties. Next season (Q1 2018) we will roll out the second phase of this initiative, which will focus on Enhanced Resident Services.
After a quick half time, we got right back to business with the Top Ten Trends Affecting Affordable Housing, a State and Local Housing Initiatives panel led by Bob Simpson, and an MBS as Tax-Exempt Bond Collateral (M.TEB) panel. Key takeaways included:
- State and local initiatives (including housing trust funds) are increasing and creative in their efforts to address housing needs for very low income, low income and workforce renters.
- The MTEB forward execution has been rolled out following the strength of the immediate funding version, and spreads are similarly attractive.
We closed the day out strong by recognizing some of our Lender MVPs and celebrating our wins post-game. This recap of MAH Madness, the presentation used during the event, and other resource documents can be found on our newly enhanced affordable webpage.
Thank you for a great year and we look forward to the work we will continue to do with you in 2018.
Angela and Brian