NMHC members met with senior officials at the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac’s regulator, on December 4 to provide an update on market conditions facing the multifamily industry. During the meeting, NMHC presented on several topics including analysis of construction activity, NMHC’s quarterly market survey and the status of capital markets debt and equity sources.
As part of the process outlined in the 2018 GSE Scorecard for Fannie and Freddie, FHFA uses industry input to make an assessment every quarter to determine the size of the multifamily market and whether an adjustment to the production cap is warranted. NMHC is one of the sources that provides input to FHFA’s quarterly analysis. In a preview of the upcoming 2019 Scorecard, FHFA recently announced that the production cap for 2019 will remain unchanged at $35 billion and the adjustments will be made to the green lending programs and affordability methodology determination. The Scorecard is expected to be released in December.
NMHC/NAA will monitor the publication of the entire Scorecard and communicate it once released.