NAA/NMHC’s statement to the House Subcommittee on Capital Markets and Government Sponsored Enterprises notes in part, “We believe that covered bonds could indeed provide some degree of additional liquidity to U.S. multifamily finance. We caution, however, that it is quite unlikely that covered bonds could provide the capacity, flexibility or pricing superiority necessary to adequately replace any of the U.S.’s traditional sources of multifamily mortgage credit.”
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