Today, FHFA Director Mark Calabria announced the Agency’s plan to revise multifamily loan purchase caps for Fannie Mae and Freddie Mac during his remarks at the 2019 NMHC Fall Meeting.
As outlined by Director Calabria, new multifamily loan purchase caps will extend for the five-quarter period beginning October 1, 2019, through 2020. The new caps apply to all multifamily businesses with no exclusions.
During Director Calabria’s announcement at the 2019 NMHC Fall Meeting, he spoke at length about this newly released plan. He also commented on the Trump administration's recently released housing finance reform plan and the affordability crisis more generally. He noted that while he is encouraged that states are taking steps to deal with housing affordability challenges, price control policies like rent control are not the right approach.
NMHC members appreciate that Director Calabria made the announcement to conclude our 2019 NMHC Fall Meeting and we applaud the Director and the Agency for their focus on multifamily as it relates to housing finance reform.