All About FM and MF

Mind Map by msowolabi, updated more than 1 year ago
Created by msowolabi almost 5 years ago


Business Notes for Interview

Resource summary

All About FM and MF
1 Multifamily = finance rental housing
1.1 How? purchase loans from a network of lenders, then securitize loans with 5 or more units
1.1.1 funding goes to metro/urban areas, and smaller communities finance properties that hold renters in student, single professionals, families, and senior citizen housing
1.2 open to help in good and bad times; operate like accordion; expand when funding sources dry up
1.2.1 Support AH = main focus of business; almost every loan supports AH; roughly 90 percent of loans /yr support low & moderate income households who earn at or below median income keep financing affordable; helps aging properties; props in need of improvements and smaller communities We PROTECT Taxpayers from Risk How? we securitize loans instead of hold them in our portfolio; we structure K-deals mortgage securities to place private capital in first loss position -- removes credit risk from business and taxpayers. K-Deal = has senior bonds (we guarantee) & subordinate bonds (we don't) -- backed by same loans; S bonds are held by private investors; bears initial loss; creates shock absorber for senior bonds
1.3 This Year - $10 billion in funding
1.3.1 49% - share o MF mortgage purchase in GSE market 0 credit loses and no REO properties 140,000 apartment units financed this year
2 Purpose: funding, stability, and affordability to country's housing market; keeps money flowing to mortgage lenders; chartered 1970
2.1 How? purchase loans from lenders to help them build their supply of funds to make more loans to borrowers
2.1.1 conservatorship = 2008, help restore confidence
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