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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 52 February 2025 J O U R N A L said Jason Griest, VP of Multifamily Securitization for Freddie Mac. Multifamily Giant PCs were added to Freddie Mac Multifamily's securiti- zation platform in 2024, giving investors another re-securitization option to better manage their portfolios and boost the potential for mission-driven impact offers. To provide liquidity for small financial institutions, sponsors, and originators of affordable housing across the nation, Freddie Mac also launched multi-sponsor Q-Deals in 2024. Freddie Mac Implements Actions to Strengthen Investor Needs, Afford- ability Freddie Mac Multifamily issued both fixed- and f loating-rate bonds through 5-year K-Deals throughout the year in response to borrower and market demands. In order to promote liquidity for both municipal and mort- gage-focused investors, the company's ML-Deal program was further en- hanced for 2024 to include the ability to exchange a municipal CUSIP registra- tion for a corporate CUSIP registration and vice versa. In 2024, Freddie Mac Multifamily issued $4.3 billion in Impact Bonds, surpassing $24 billion in total issuances over the program's duration, as part of its continued dedication to providing high-quality, reasonably priced rental housing. ML-20, which financed loans securing properties with units that are overwhelmingly affordable and have an environmental impact, was named the 2024 Sustainability Bond of the Year— Agency by Environmental Finance for the third consecutive year. "We are proud of the progress we made over the past year, especially in a challenging business environment," Griest said. "Working with our Capital Markets stakeholders, we meaningfully enhanced and expanded our platform to better support liquidity, stability, and affordability in the multifamily market and for renters in communities nationwide." Since the program's launch in 2009, Freddie Mac has settled $738 billion in multifamily securities through its K-Deal and other risk-transfer prod- ucts. The company won Deal of the Year for a Single-Asset Single-Borrower deal, K-PLB2, backed by Park La Brea Apartments in Los Angeles, which of- fers more than 4,200 units of workforce housing and was named the CMBS Issuer of the Year by GlobalCapital in 2024. In 2024, the company settled: • $148.2 million in third-party initiat- ed Giant PCs (re-securitization) • $27.7 billion in K-Deals, including $2.9 billion through When-Issued K-Deals • $22.1 billion in Multi PCs, including $832.3 million through newly issued company-initiated Giant PCs and $186.4 million through newly issued company-initiated P-Deals • $1.5 billion in SB-Deals • $1.9 billion in M-Deals and ML- Deals • $2.1 billion in Q-Deals • $411.6 million in MSCR Notes • $136.9 million in third-party initiat- ed P-Deals (re-securitization) Historically, families with low-to-moderate earnings up to 120% of the area median income can afford more than 90% of the eligible rental units we sponsor. More than 90% of the multifamily loans that Freddie Mac buys are securitized, shifting inter- est-rate risk, liquidity risk, and most of the predicted credit risk from American taxpayers to private investors. HUD RECAPS HISTORIC INVESTMENTS MADE BY THE BIDEN ADMINISTRATION T he COVID-19 pandemic and other factors made it difficult to obtain good, affordable hous- ing when President Joe Biden and VP Kamala Harris took office in January 2021. This increased the likelihood of homelessness and housing prices for families nationwide. The U.S. Department of Housing and Urban Development (HUD) has made significant progress in eliminat- ing housing discrimination, increasing rental assistance for thousands of Americans, reducing housing costs, and increasing the supply of affordable homes under the direction of Secretary Marcia L. Fudge and Agency Head Adrianne Todman. Over the past four years, the Biden-Harris administration has made significant housing investments that have strengthened American neigh- borhoods and supported families, all thanks to the diligent efforts of HUD personnel and the Department's partners at other federal agencies and on the ground. This accomplishment, as HUD approaches its 60th year, is evidence of the Department's programs and employees' ability to create pros- perous communities and pathways to economic opportunity. "It has been my deepest honor to serve the American people at HUD, helping families secure affordable housing where they can grow and thrive and live with dignity," HUD Agency Head, the Honorable Adri- anne Todman said. "With steadfast leadership, HUD and the Biden-Harris administration were able to make a real difference, even as we faced consider- able headwinds in the housing market. During our time at HUD, we've ensured