In September of 2022, we launched the Positive Rent Payment Reporting pilot. Under the program, property owners report on-time rental payment to the major credit bureaus, helping renters build their credit history and improve their credit score.
In response to volatile markets and to maintain flexibility, we are now offering to convert existing SARM loans to a 5-year fixed rate execution, regardless of the remaining SARM loan term. The process time can be as short as one week to rate lock the converted loan.
Thank you for your partnership last year in supporting the country’s underserved markets through our 2022 – 2024 Duty to Serve Plan. While our objectives will remain the same in 2023, there are loan purchase targets that have increased. We’ll need your partnership more than ever this year!
Happy New Year! We accomplished so much together in 2022, and I am grateful for your steadfast partnership. It would not have been possible without the efforts and contributions of our DUS® lenders. Our strong partnership continues to set the standard for our business model, and the renters we serve.
On November 10, FHFA announced the multifamily loan acquisition volume caps for the GSEs in 2023. Each Enterprise can acquire up to $75 billion in multifamily loans for the year, a decrease from the $78 billion cap in place for 2022.