By Dave Borsos, VP of Capital Markets, NMHC
Dave Borsos is Vice President, Capital Markets and has primary responsibility for managing and guiding NMHC’s multifamily finance policy as it relates to federal legislative and regulatory issues impacting housing finance reform, the Federal Housing Administration and the regulation of financial markets.
Why This Matters: The plans aim to address barriers experienced by renters, aspiring homeowners and current homeowners—particularly in Black and Latino communities. The multifamily specific plans cover a number of topics that could have a direct impact on the industry—including housing affordability, credit equity, tenant and landlord protections.
Our Next Steps: NMHC will work directly with the Enterprises as they develop and implement their respective equitable housing finance plans and will follow up with members as additional action is taken.
Freddie Mac proposes extensive changes to increase equity and access within the multifamily industry. Their far-reaching plan incorporates many of the goals that NMHC supports. In creating the plan, Freddie Mac identified five barriers to equitable housing. To address these barriers, Freddie plans to create and expand upon current affordability, sustainability, development and capital programs that would have a direct impact on renter and property owner outcomes.
Fannie Mae’s plan is centered on homeownership and, specifically, the Black housing journey. Of note for our industry, rental housing was incorporated in their “Housing Preparation” stage as a means for establishing credit.