Group Building A Data Base on Multifamily Loans

The Multifamily Housing Institute said it is creating an on-line data base that will track the performance of apartments and apartment loans nationwide.

"This will be the largest publicly available aggregation of property and financing data available for multifamily mortgages. Frankly, there is no source like this for income properties that is as reliable," said Charles J. Olsen, vice president of multifamily production and product development at the Federal Home Loan Mortgage Corp., which is among the organizations contributing data for the service.

The institute is a nonprofit affiliate of the Urban Land Institute that is dedicated to fostering a more liquid market for apartment financing. It was created by a national task force on financing affordable housing.

Also contributing data for the service, which is expected to be available in the spring, are the Department of Housing and Urban Development, the Federal National Mortgage Association, and several regional banks.

The data base is expected to include about 40% of the nation's apartment buildings that are 50 units or larger.

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