MBA NewsLink Staff
Freddie Mac Reenters LIHTC Market Via Fund with Enterprise
Freddie Mac, McLean, Va., closed its first Low-Income Housing Tax Credit Fund with Enterprise Community Investment Inc., Columbia, Md.
The closing marked Freddie Mac's re-entry to the housing credit market that finances much of the country's affordable rental housing. The fund will provide up to $100 million in targeted affordable housing investments with more investments possible as additional transactions are closed.
The fund will invest nationwide to create and preserve affordable homes. It will focus on areas and transactions that have been underserved over the past decade such as rural communities, 4 percent LIHTC financing and developments that provide intensive supportive services to their residents.
Roofstock Launches 30-Day Guarantee for Real Estate Investors
Single-family rental property marketplace Roofstock, Oakland, Calif., launched its Roofstock Guarantee, which includes a 30-day money-back guarantee on SFR investment properties purchased through the Roofstock marketplace and guaranteed rent if the vacant property is not leased within 45 days of closing.
Roofstock uses a proprietary prediction model to analyze millions of properties' investment potential. It selects properties that meet its underwriting criteria and gives clients information on yield potential, estimated repair costs, projected total returns and neighborhood ratings, which serve as a proxy for the risk of the investment.