In a significant victory for the multifamily industry, the Financial Industry Regulatory Authority (FINRA) issued an update to their proposed margining risk management rule that will now exempt all multifamily and project loans from the rule. As we previously reported, NMHC/NAA worked together with the Mortgage Bankers Association to provide overviews to regulators on the strength of the existing risk management practices followed by our industry.
The amended rule specifically carves out Fannie Mae and Ginnie Mae multifamily and project loans from the proposed margining practices. As part of the normal rule making practice, FINRA will file the rule with the SEC for final technical comments.
NMHC/NAA will review the final rule and submit technical comments if needed during the final comment period.
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