On June 28, NMHC Senior Vice President of Government Affairs Cindy Chetti represented NMHC/NAA and the apartment industry during an invitation-only roundtable discussion on housing finance reform with House Financial Services Committee Ranking Member Maxine Waters (D-Calif.) The event was the second in a series of panel discussions focused on finding reform solutions that ensure access to mortgage credit, affordability and taxpayer protection.
During the discussion, Chetti pointed to growing apartment demand, underscoring the industry’s needs for a liquid multifamily mortgage market that will allow apartment firms to access capital in all geographic markets and at all times in the economic cycle. She also highlighted the proven performance of the multifamily programs at government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
In addition, Chetti said NMHC/NAA were encouraged by the recently released Warner-Corker bill, which recognized the unique characteristics of the multifamily finance market and took steps to preserve the current platforms with a new housing finance system.
Several members of Congress, including House Subcommittee on Capital Markets Ranking Member Carolyn Maloney (D-N.Y) and Nydia Velazquez (D-N.Y.), acknowledged the fundamental differences between single-family and multifamily financing and stressed the importance of retaining the successful multifamily platforms. A video of the discussion is available here.