Freddie Mac sets new multifamily transaction record in 2005.

Freddie Mac closed a record $26.2 billion in new multifamily business in 2005, a 10 percent increase over its 2004 volume of $23.8 billion.

This volume included approximately $2 billion in targeted affordable-housing products, which finance apartments that receive some sort of government subsidy. All together, Freddie's multifamily transactions financed about 436,000 apartment homes affordable to families earning low or moderate incomes.

"In the days ahead, we intend to build on that foundation, devoting our time and attention to streamlining our financing process and enhancing our products menu to better meet the needs of borrowers and lenders in the multifamily arena," said Michael C. May, senior vice president of Freddie's Multifamily Sourcing Division.

Highlights of Freddie Mac's multifamily business in 2005 include:

* Nearly $10 billion through Freddie Mac's flow programs, which included more than $1.1 billion of targeted affordable-housing projects and approximately $6 billion of loans with its fixed-to-float feature.

* More than $1 billion through Freddie's structured programs, including more than $630 million in targeted affordable-housing products.

* $1.3 billion in low-income housing tax-credit investments.