As we previously reported, NMHC staff met with Federal Housing Finance Agency (FHFA) Director Mel Watt and key agency members on April 15. The discussion focused on the state of the multifamily market and industry concern that Fannie Mae and Freddie Mac will hit their related production caps well before the end of the year.
NMHC/NAA issued a letter this week to Director Watt following up on the meeting to stress that FHFA maintain multifamily capital flow. We reemphasized our concerns about the potential for multifamily market disruptions that, in fact, have already started to happen. In addition, we repeated our recommendation that any decision by FHFA about the production caps be made as soon as possible in order to limit the disruptions.
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