Articles

Small Multifamily Extends Quarterly Valuation Gains

Small multifamily assets have begun to settle into a consistent pattern of growth following two years of price corrections. Building on the findings of Arbor Realty Trust’s Small Multifamily Investment Trends Report Q4 2025, our research teams look more closely at recent pricing trends and the factors driving the turnaround.

Articles

FHFA Loan Caps for 2026: What Multifamily Borrowers Need to Know

The Federal Housing Finance Agency (FHFA) announced a $30 billion boost to Fannie Mae and Freddie Mac’s volume cap for loan purchases in 2026 to $176 billion ($88 billion for each agency). This increase in FHFA loan caps for 2026 aligns with industry expectations, given the anticipation of improving market conditions and lending activity expected in a lower interest rate environment. Next year’s cap for the Government-Sponsored Entities (GSEs) is an increase of approximately 20% from the $146 billion limit set for 2025.

Current Reports

Affordable Housing Trends Report Fall 2025

As the cost of living in the U.S. climbs, the shortage of affordable housing is a persistent challenge for many communities. While progress has been uneven to date, Arbor Realty Trust and Chandan Economics document federal and state initiatives aimed at creating positive change. In a sector known for its strength, stability, and consistency, new and old affordable housing opportunities are converging as the nation accelerates construction.

Conventional Forwards

FRDDIE MAC® Conventional Forwards Arbor’s Freddie Mac® Conventional Forwards encourage the creation of new housing supply by providing takeout certainty to developers and construction lenders, helping to address long-term supply shortages that limit affordability and housing choice. In an evolving multifamily lending environment, our Conventional Forwards provide clarity to the terms of the permanent debt needed when a property stabilizes after new construction or major rehabilitation.

Analysis

Top U.S. Multifamily Rent Growth Markets — Q3 2025

As has been the case throughout this cycle, the top rent growth markets over the past 12 months represented several regions, all with varying strengths and characteristics.

Current Reports

Small Multifamily Investment Trends Report Q4 2025

Arbor Realty Trust’s Small Multifamily Investment Trends Report Q4 2025, developed in partnership with Chandan Economics, outlines the long-term positives reinforcing the sector’s growth amid macroeconomic uncertainty. With capital market activity poised to increase, small multifamily’s healthy fundamentals position it to trend higher in the next cycle.

Analysis

U.S. Multifamily Market Snapshot — November 2025

The U.S. multifamily market demonstrated clear signs of stabilization during the third quarter of 2025, as supply imbalances eased and investment activity climbed.

Borrower FAQs

Find answers to common questions about multifamily and single-family rental real estate financing.

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Home | Originations Team | Matt Norman

Matt Norman

Vice President, Sales

Matt Norman is responsible for originating Fannie Mae, Freddie Mac, FHA, SFR Portfolios, CMBS, Bridge, Mezzanine and Preferred Equity loans for Arbor’s Midwest and Southwest regions. He also originates transactions for office, hotel and retail assets.

Mr. Norman joined Arbor in 1995 as a Fannie Mae and Conduit Analyst, and progressed to Underwriter, and then Senior Underwriter. He ran Arbor’s Multifamily Loan Screening Group and proceeded to oversee Arbor’s Specialized Lending programs, including Affordable, Bond, Seniors, and Student loan programs. Since moving to Loan Origination in 2005, Matt has originated over $2B in multifamily loans with Arbor.

Before joining Arbor, Matt held previous positions with Caterpillar Financial, Addison National Bank and NationsBank.

Mr. Norman graduated from Indiana University with a Bachelor of Science in Business and Finance.

[email protected] | 214.336.6746
Bloomington, IN