NAA and NMHC today provided a statement for the record to the House Committee on Financial Services. In part, the statement said: “We have given considerable attention to the range of options and urge lawmakers to focus their attention—at least in terms of serving the rental housing industry—on the third option, e.g., a system that provides a federal guarantee at all times. While we are encouraged by the thawing in the private capital markets and support a return to a marketplace dominated by private capital, lawmakers need to understand that even in healthy economic times history has made it clear that the private market simply cannot meet a majority of the rental housing industry’s capital needs. Multifamily mortgages are far more complicated than single-family mortgages, which are more easily served by the private sector.”
View the statement