An in-depth opinion editorial published in American Banker addresses the profitability of multifamily activities for the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, and emphasizes that multifamily housing should be the starting point for housing finance reform.
Shekar Narasimhan, managing partner at Beekman Advisors, and James B. Lockhart, former director of the Federal Housing Finance Agency, wrote the opinion editorial, noting that change is needed now and multifamily housing finance reform is the place to start. They recommend, in part, that the GSEs’ multifamily operations be spun off in carefully planned phases, ending with privately-owned entities.
As support for their proposals, Narasimhan and Lockhart stressed that the multifamily markets have performed well for years, as well as the fact that multifamily is the foundation of America’s housing system because it is a first step into homeownership for many.
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