Industry Asks FHFA to Remove GSE Multifamily Production Cap
NAA/NMHC are urging Federal Housing Finance Agency (FHFA) Director Mel Watt to consider removing the multifamily production cap on the Government-Sponsored Enterprises’ (GSEs), Fannie Mae and Freddie Mac, purchases from the 2016 GSE Scorecard. Some form of the production cap has been in place since 2012 and we have expressed our opposition every year.
That’s because the production cap is a form of arbitrary constraint on a capital source that is vital to our industry. We expect that FHFA will issue their proposed 2016 Scorecard during the fourth quarter of this year.
Importantly, the agency will include a comment period for industry feedback on this new Scorecard. NAA/NMHC are closely monitoring its issuance and will request member input before responding to FHFA.
Review the 2015 Scorecard.
Provided by NMHC as part of the NAA/NMHC Joint Legislative Program