New name emphasizes multifamily mortgage business platform
Fannie Mae just announced that its Housing and Community Development (HCD) division will now be called Multifamily Mortgage Business (MMB) or Multifamily. The new name parallels Fannie Mae’s Single-Family Mortgage Business, more clearly conveys what the business does, and emphasizes the multifamily mortgage business platform.
“Multifamily will continue to focus on rental housing finance, especially affordable rentals, as an increasingly important part of the company’s mission,” said Ken Bacon, Executive Vice President, Multifamily Mortgage Business. “In the coming years, affordable rental housing will play a significant role in the housing market as the nation and households grow. Through the Multifamily Mortgage Business, Fannie Mae will continue to serve as a leader in affordable lending.”
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