Freddie Mac Multifamily has announced the release of a new mapping tool that helps lenders identify investment opportunities in underserved markets nationwide.
As part of Freddie Mac’s Duty to Serve plan, the mapping tool integrates data from various sources. This synchronization, according to Freddie Mac, gives investors a better understanding of opportunities for creating and preserving affordable housing in hard-to-serve markets.
“Our new Duty to Serve Mapping Tool will help lenders and investors better understand and support underserved markets,” said Corey Aber, director of multifamily community mission and impact finance at Freddie Mac. “Users of the tool are able to easily determine if properties have major public subsidies or Duty to Serve designations, and it overlays tract-level income and demographic data. It’s all part of our effort to simplify the process for making loans that support housing in communities that desperately need it.”
Other features of Freddie Mac’s mapping tool include:
- Identify rural, high needs and/or residential economic diversity census tracts
- Identify if a property can receive Duty to Serve credit, supporting efforts to serve historically underserved markets
- Identify properties around the country with major public subsidies from the National Housing Preservation Database
- View income and demographic statistics on each tract level
- Download a spreadsheet of data for a list of addresses or subsidized properties at once for use in other applications