NMHC/NAA joined a coalition of top real estate and financial services trade groups in calling on Federal Housing Finance Agency (FHFA) Director Mel Watt to re-examine the agency’s approach to oversight of the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, which have played a pivotal role in providing vital rental housing nationwide.
Specifically, in a Feb. 13, 2014 letter to Watt, the coalition recommended that FHFA not interfere with the GSEs’ multifamily activities highlighting that Fannie and Freddie continue to address the important financing needs of a range of multifamily property types and geographic markets, including providing support to secondary, tertiary and affordable rental markets.
The coalition emphasized that FHFA must focus on building an even stronger foundation for a stable and resillent housing finance system that continues to attract significant private capital, while ensuring an appropriate government guarantee.
