The Mortgage Bankers Association (MBA) recently issued a statement regarding the Federal Housing Finance Agency’s (FHFA) announcement of the 2024 multifamily lending purchase caps for Freddie Mac and Fannie Mae.
“A cap of $70 billion for each of the GSEs (government-sponsored entities) is reasonable, given the challenging market conditions and high interest rate environment expected in 2024,” MBA President and CEO Bob Broeksmit said in a statement. “We appreciate FHFA’s ongoing flexibility should adjustments to the caps and mission-driven requirements be necessary and believe exempting loans supporting workforce housing from the cap levels will help to ensure GSE financing is a viable option for housing providers in the current environment.
“MBA supports a level playing field across various capital sources and will continue to work with FHFA, the GSEs, and other industry stakeholders on ways to increase affordable rental housing,” Broeksmit added.