Freddie Mac Closes Largest MHC Portfolio with Walker & Dunlop
- Feb 25, 2015
Bethesda, Md.—Walker & Dunlop Inc. announced the closing of a $177 million loan portfolio with Sun Communities (Sun) that includes 13 manufactured housing communities in Michigan, Colorado, Minnesota, Wisconsin and Florida.
The portfolio was comprised of eight loans that were purchased by Freddie Mac and five loans that were Fannie Mae assumptions. It is the largest MHC portfolio Freddie Mac has closed to date. The Freddie Mac loans were structured as 10-year fixed rate loans with 2-years of interest only. Walker & Dunlop successfully rate locked the loans within one day of application submission removing any risk of increasing rates.