FOR IMMEDIATE RELEASE
May 19, 2015
Contact: Stephanie Collins
OCC Newsletter Focuses on Financing Small Multifamily Rental Properties
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments electronic newsletter entitled "Small Multifamily Rental Property Financing.”
“Small multifamily rental properties house nearly one-third of the nation’s renters and the rents in these properties are typically more affordable to low- and moderate-income families,” said Comptroller of the Currency Thomas J. Curry. “This newsletter reviews the range of ways banks are involved in financing these properties.”
Articles in this edition of Community Developments Investments look at how banks finance small multifamily rental properties for their own investment portfolios or for sale into the secondary market, as well as in partnership with Community Development Financial Institutions. This newsletter also reviews current OCC supervisory policies for the financing of multifamily properties as well as how these financing activities may qualify for consideration in a bank’s Community Reinvestment Act examination.
This edition of Community Developments Investments is part of a group of resources available to national banks and federal savings associations interested in financing multifamily rental housing. These resources can be accessed on the OCC’s Web site at www.occ.gov.
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