NAAHL’s blue-chip, mission-based lenders that include multi-bank loan consortia originate and currently hold more than $20 billion in high-quality, multifamily mortgages financing half a million rental homes in places as diverse as Oregon, North Carolina, and Massachusetts. Banks have profitably invested in these state and regional loan pools to leverage private capital where it is most needed.
But there is a major blind spot in America’s mortgage finance system that is preventing more and more families from finding “naturally affordable” rental homes – the lack of a functioning secondary market for small properties (5-50 units).
Readily-available, consistently-priced, and long-term financing for affordable rental properties is critically needed in the United States, especially for the small properties.
“Community Developments Investments,” highlights Small Multifamily Rental Property financing, including articles by NAAHL members BMO Harris, Community Investment Corporation of Chicago, Community Investment Corporation of the Carolinas, Community Preservation Corporation, Federal Home Loan Bank of Indianapolis, Massachusetts Housing Investment Corporation, and NeighborWorks America.