The first Fannie Mae M-PIRE (Multifamily Property improvements to Reduce Energy) loan closed for a Bronx rental building.
The Fannie Mae M-PIRE mortgage product is available to affordable and market rate co-opand conventional rental housing owners in the five boroughs of New York City.
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The Department of Housing and Urban Development (HUD) is implementing a new Fast Track component to its Rental Assistance Demonstration program (better known by its catchy acronym: RAD), which provides access to viable financing tools for at risk public and assisted housing. RAD Fast Track aims to address the overwhelming popularity of the RAD program by streamlining the process. HUD estimates that roughly 10,000 public housing units are lost to deterioration annually, while the need for affordable housing for low-income renters continues ...