WASHINGTON, DC—The Federal Housing Finance Agency officially unveiled its 2016 Scorecard  for Fannie Mae and Freddie Mac [PDF] last week. Director Melvin Watt put the multifamily industry out of its suspenseful misery in October of this year when he said in a speech that the GSEs’ multifamily lending cap would remain at $30 billion each. As it turned out, that was not strictly correct — the cap has been set at $31 billion. Watt also said that the exclusions to the cap would be expanded, casually mentioning in an aside that energy efficiency would be on the list.

Now that the Scorecard has been published, let me spell out the implications of what the FHFA has done: By adding energy-energy efficient loans to the exclusions, it has overtly given the GSEs the mandate they needed to develop these product lines. In previous years green building finance was tacitly approved but, let’s face it, for bureaucrats who can be summoned to Capitol Hill at any time to explain why they are doing XYZ with the tax payer’s money, tacit doesn’t always cut it.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.