Fannie Mae and Freddie Mac are trying to reign in robust multifamily lending that has them racing toward their annual production caps very early in the year.

Fannie and Freddie have introduced rate hikes over the past few weeks and tightened underwriting as a means to slow lending activity.

“I think CMBS, life insurance companies and commercial banks are going to be able to step in and pick up the void,” said William E. Hughes, a senior vice president with Marcus & Millichap Capital Corporation.

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