WASHINGTON, D.C. — Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) on the release of housing finance reform plans from the Treasury Department and HUD.
For over a decade, lawmakers have sought to make reforms to the nation’s housing finance system. NMHC and NAA applaud the administration for taking a serious step towards restructuring the housing finance system.
As communities across the country confront housing affordability challenges, it has never been more important that housing finance reform is approached in a deliberate, careful manner to ensure that the multifamily industry has broad and consistent access to the financing needed to serve those communities.
NMHC and NAA look forward to reviewing the administration’s plans and engaging with our membership to develop a deep understanding of the market impact the proposals may have.
Going forward, we will continue to advocate for a housing finance system that:
- Maintains an explicit federal guarantee for multifamily-backed mortgage securities available in all markets at all times and paid for by all users;
- Recognizes unique multifamily risk management characteristics when crafting reform legislation; and
- Retains the successful components of the existing multifamily programs in whatever succeeds them.
More information on the apartment industry’s position on housing finance reform can be found here.
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For more than 25 years, the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) have partnered on behalf of America’s apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of 160 NAA state and local affiliated associations, NMHC and NAA provide a single voice for developers, owners and operators of rental housing industry. Apartments and their 39 million residents support more than 12 million jobs and contribute $1.3 trillion to the economy.