In comments submitted to the Federal Housing Finance Agency (FHFA) on October 8, NLIHC called on the agency to reverse its decision to contract Fannie Mae’s and Freddie Mac’s multifamily business. FHFA called for a 10% reduction in the GSEs’ multifamily business in its 2013 conservatorship scorecard, and later requested public input on the issue.
“The overall increase in demand for rental housing in the aftermath of the 2008 financial crisis has exacerbated the ongoing shortage of affordable rental homes,” NLIHC President and CEO Sheila Crowley wrote to FHFA Acting Director Edward DeMarco. “Multifamily financing needs are not adequately met by the private market, and the GSEs, given their public mission, have an obligation to help fill this gap.”
Read NLIHC’s letter to FHFA Acting Director Edward DeMarco: http://bit.ly/19P6rNt
Read FHFA’s request for comment at: http://1.usa.gov/19F0hcI