Freddie Mac Hired 400 People Last Year. Here's Why.
If a slowdown is underway, multifamily didn't get the memo. Freddie Mac's employment hit a 10-year high in 2015 with 400 new hires (bringing the staff to 5,416)—and most of those went to work on multifamily deals.
The hiring numbers reflect a 67% increase in such deals by Freddie Mac last year, totaling a whopping $47B in multifamily deals, GlobeSt reports. The hiring numbers come as commercial real estate lending is about to scale back.
A recent Fed survey shows banks will be tightening their lending in 2016, after both regulators and high rolling investors said lending standards looked just like they did before the 2008 crisis. [GS]