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This directory provides links to resources and information for banks, thrifts, and others interested in multifamily finance and investment programs.
Enterprise Community Partners' Green Communities
The Enterprise Green Communities have developed criteria to establish a green community. These criteria were developed to translate the collective expertise of leading housing and green building practitioners into a clear, cost-effective framework for all affordable housing development types. The criteria are suitable for new construction, substantial rehabilitation, and moderate rehabilitation in multifamily and single-family projects.
Fannie Mae's Multifamily Green Financing Business
Fannie Mae provides mortgage financing to apartment buildings and cooperatives to finance energy and water efficiency property improvements. Multifamily properties using this product should have a nationally recognized current Green Building Certification or make property improvements that target reductions in energy or water use.
Energy Star Certification
The program provides three ways to earn certification for multifamily new construction projects: (1) A builder uses an approved rating tool to determine the unit-by-unit energy savings and follows EPA energy efficient measures, (2) a builder uses a modeling software to determine cost savings based on the buildings design, and (3) a builder uses the U.S. Environmental Protection Agency’s prescriptive package of energy efficient measures.
National Green Building Standard
This standard is the only green building rating system for homes and apartments approved by the American National Standards Institute. The National Green Building Standard provides a blueprint for builders to follow for design and construction of new and renovated single-family homes and multifamily apartment buildings. Many groups have adopted the NGBS, including National Association of Home Builders, National Multifamily Housing Council, and Home Innovation Research Labs.
U.S. Green Building Council
The council provides the Leadership in Energy and Environmental Design (LEED) certification. Available for all building types, LEED certification, which offers environmental, social and governance benefits, provides a framework for healthy, highly efficient, and cost-saving green buildings . The council provides four levels of certification: certified, silver, gold, and platinum.
Program Design Guide: Energy Efficiency Programs in Multifamily Affordable Housing
Energy Efficiency for All is a collection of state coalitions that identifies best practices for policymakers, regulators, and program administrators to help building owners invest to increase the energy efficiency of multifamily affordable housing. The coalitions’ guide lists hundreds of local, state, and national programs and initiatives that consumers and developers can use to improve buildings’ energy effectiveness.
Stewards of Affordable Housing for the Future's EZ Retrofit Tool
This free, Microsoft Excel-based benchmarking and audit tool gives multifamily property owners and managers a way to identify cost-effective energy and water efficiency upgrades.
U.S. Environmental Protection Agency's Green Building
Green building is the practice of creating structures and using processes that are environmentally responsible and resource-efficient throughout a building’s life cycle from site planning, design, construction, operation, maintenance, renovation, and deconstruction.
Under the 12 CFR 24 public welfare investment authority, national banks may invest, directly or indirectly, in real estate development. Real estate development includes affordable multifamily housing projects that primarily benefit low- and moderate-income individuals, low- and moderate-income areas, or other areas targeted by a government entity for redevelopment. National banks may also invest under 12 CFR 24 if the investment would receive consideration under 12 CFR 25.23 (the Community Reinvestment Act (CRA) regulation) as a qualified investment. For more information, refer to the OCC's public welfare investments (12 CFR 24) resource directory.
This program encourages investment in multifamily housing targeted to low-income households. The OCC offers several publications with information about the program for banks.
The OCC offers publications on topics related to multifamily and community development.
County Health Rankings & Roadmaps
This program is a collaboration between the Robert Wood Johnson Foundation and the University of Wisconsin Population Health Institute. The annual rankings provide a snapshot of how health is influenced by where Americans live, learn, work, and play. The road maps provide guidance and tools to understand the data and strategies that communities can use to reach their objectives.
Report on Limited Equity Co-Ops by Community Land Trusts: Case Studies and a Feasibility Assessment for the Hybrid Model
The Community Land Trust Network’s Research Collaborative partnered with Meagan Ehlenz, a doctoral student at the University of Pennsylvania, to produce this study, which includes summaries of co-op projects and a tool to evaluate the feasibility of prospective multifamily limited equity coop projects.
Small City Economic Dynamism Index
The Federal Reserve Bank of Atlanta compiled this index, which provides a snapshot of the economic trajectory and current conditions of small and midsized cities. This version of the index has hundreds of cities, includes the most recent data available, and displays an extended time series of data to illustrate changes over time. The data were used to create the Small City Dynamism Index to help policymakers and practitioners gain more nuanced perspectives. The index ranks small U.S. cities across 13 indicators of economic dynamism in four categories: demographics, economics, human capital, and infrastructure.
State of the Nation's Housing 2022
The Joint Center for Housing Studies of Harvard University provides a current assessment of the state of the housing market and the foreclosure crisis; the economic and demographic trends driving housing demand; the state of mortgage finance; and ongoing housing affordability challenges.
Comptroller's Handbook: Commercial Real Estate Lending
This OCC booklet provides guidance for bank examiners and bankers on commercial real estate lending activities. For purposes of this booklet, commercial real estate lending comprises acquisition, development, and construction financing and the financing of income-producing real estate.
Enterprise Community Partners
This organization is a national nonprofit intermediary with more than 40 years of experience in the community development and affordable housing field and is a leading provider of capital and expertise for affordable housing and community development.
Housing Assistance Council
This council is a national nonprofit intermediary created to increase the availability of decent and affordable housing for rural, low-income people.
Local Initiatives Support Corporation
This corporation is a national nonprofit intermediary, which assembles private and public resources enabling local organizations to access national resources and expertise and funding partners to leverage their investments.
Mortgage Bankers Association
This is a membership organization representing the real estate finance industry.
National Association of Affordable Housing Lenders
This is a membership organization committed to increasing private lending and investing in low- and moderate-income communities for affordable housing and community economic development through its private sector lenders and investors.
National Association of Home Builders
This is a membership organization representing the home building industry, including multifamily builders and developers.
National Association of Housing and Redevelopment Officials
This is a membership organization comprised of housing and community development organizations whose members administer a variety of affordable housing and community development programs at the local level.
National Housing Trust
This organization is a nonprofit intermediary dedicated to the preservation of federally assisted, decent, safe, and affordable housing.
National Multifamily Housing Council
This council is a membership organization, which represents firms engaged in all aspects of the apartment industry including ownership, development, management, and financing.
This organization is a congressionally chartered and funded nonpartisan nonprofit network of about 250 local and state organizations supporting affordable housing, financial counseling, training, and resident engagement.
This federal agency offers financial products for affordable and market-rate rental housing on apartment buildings, condominiums, and cooperatives with five or more individual units. Fannie Mae multifamily programs include debt financing through lenders for small and large multifamily loans, seasoned pool purchases, and structured transactions. Fannie Mae-approved delegated underwriting and servicing lenders can underwrite, close, and deliver most loans without Fannie Mae’s pre-review. The company provides credit enhancement for tax-exempt bonds issued to finance the acquisition, new construction, refinancing, or moderate or substantial rehabilitation of multifamily housing. Additionally, Fannie Mae offers forward commitments, which allow lenders to lock in rates.
Federal Home Loan Banks
These banks, through their affordable housing and community investment programs, since 1990, serve lower-income households. The Federal Housing Finance Agency is responsible for establishing Affordable Housing Goals, maintaining data, annual reporting, developing regulatory policies, and conducting off-site monitoring and examinations of the Federal Home Loan Banks’ housing and community investment programs and activities.
This federal agency helps to ensure an ample supply of affordable rental housing by purchasing mortgages on apartment buildings with five or more units. Freddie Mac enables the purchase, refinance, and rehabilitation of older buildings and the construction of new affordable apartments and senior and student housing. Freddie Mac purchases loans on mid-rise, high-rise, walk-ups, garden-style apartment complexes, and co-op buildings (but not individual units). Freddie Mac offers loans for small (i.e., five to 50 units) multifamily properties.
U.S. Department of Agriculture Rural Housing
The U.S. Department of Agriculture has several Rural Development Multifamily Housing Programs that offer loans and grants to developers of low-income community housing.
This program provides affordable financing to develop housing for year-round and migrant or seasonal domestic farm laborers.
This program has been designed to increase the supply of affordable multifamily housing in rural areas through partnerships between Rural Development and major lending sources, as well as state and local housing finance agencies and bond insurers. The program provides federal credit enhancement to encourage private and public lenders to make new loans for affordable rental properties that meet program standards. Refer to Community Developments Fact Sheet: Multifamily Rural Housing Finance Program.
This program offers rental assistance to individuals who are elderly, disabled, or low-income residents of multifamily housing complexes financed by the Housing and Community Facilities Programs. It provides qualified applicants with subsidies for the difference between 30 percent of the tenants’ household income and the fair market rent.
This program provides direct low-cost funding to develop or preserve affordable rental housing in rural areas. This program provides loan restructuring tools to lower the debt costs of properties financed with a direct Section 515 loan.
U.S. Department of Housing and Urban Development (HUD) Multifamily Housing Programs
HUD-approved lenders can participate in Federal Housing Administration multifamily mortgage insurance programs, including programs for new construction, substantial rehabilitation, and refinance of rental and cooperative housing, as well as special needs, assisted living, and seniors housing. HUD also operates the Section 8 voucher program, which subsidizes rent payments for low-income individuals.
Center for Housing Policy's ‘Paycheck to Paycheck’ Database
This database provides measures of wages and housing costs. The Center provides a downloadable spreadsheet highlighting the average rent across hundreds of metropolitan areas and the qualifying income needed to rent those units.
Community Development Financial Institutions Coverage Map
This Opportunity Finance Network map provides a tool that may be used by elected officials, bank investors, and other entities to learn more about the community development financial institutions (CDFI) industry’s geographic reach and scale. The map includes the nationwide locations where individuals, businesses, facilities, and other CDFI borrowers have benefited from the financings provided by CDFIs that are certified by the U.S. Department of Treasury's CDFI Fund. The map options include multifamily housing. The map also illustrates locations of CDFI funding so that a viewer can determine whether the locations are urban or rural.
The council is a national nonprofit organization that supports affordable housing effort throughout rural America. The council manages the Rural Data Portal and an interactive map of quick data snapshots on the social, economic, and housing characteristics of U.S. communities.
HUD Multifamily Data
The agency provides annual multifamily production data for its programs.
This is a resource for housing and community development research that is managed by HUD's Office of Policy Development and Research. The office is responsible for maintaining current information on housing needs, market conditions, and existing programs. The office also is responsible for conducting research on priority housing and community development issues that support the agency's efforts to help create cohesive and economically healthy communities.
Mortgage Bankers Association’s Commercial and Multifamily Research
The association provides current and comprehensive data and benchmarking tools for commercial real estate finance. The association also provides quarterly market research, which includes data on originations and servicing commercial real estate.
The council provides research, insights, and analysis on apartment industry issues.
Urban Institute's Housing Assistance Matters Initiative
This initiative highlights data and research, technical assistance, and evidence-based insights to advance solutions for enhancing access to affordable housing. Using a multimedia approach, this initiative draws on research by Urban Institute scholars and others to explore key connections between all forms of rental assistance and outcomes for individuals, families, and communities. See the interactive map.
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