NMHC staff met with senior officials at the Federal Housing Finance Agency (FHFA) on October 13 to provide an update on market conditions facing the multifamily industry.
Caitlin Walter, NMHC’s Vice President of Research, and Dave Borsos, NMHC’s Vice President of Capital Markets, provided details on the Impact of COVID-19 on industry performance using analysis from data products such as NMHC’s construction surveys, NMHC Rent Payment Tracker, and the Census Household Pulse Survey. They also highlighted the importance of federal support for renters, property owners and managers and provided an overview of the availability of capital and the decrease in transactional activity.
NMHC meets quarterly with FHFA to provide information as FHFA works to determine the size of the multifamily market and whether an adjustment to the production cap is warranted. FHFA is expected to soon announce the multifamily lending caps for Fannie Mae and Freddie Mac.
On October 14, the Office of Multifamily at HUD released an update of its Multifamily Stakeholder Questions and Answers COVID-19 resource, which is intended to provide guidance and clarification of HUD’s policies.