SAN DIEGO—Recently the Federal Housing Finance Agency created anew group with the goal of ensuring that both Fannie Mae andFreddie Mac foster a competitive, liquid and resilient multifamilymarket. "By creating a new group, it speaks to a commitment anddedication to focus on affordability in multifamily," according toSiobhan Kelly, associate director for multifamily at the FHFA.
Kelly made her comments during a panel session at the recent MBACREF conference, where multifamily finance was a chief topic dueto, no doubt, the insatiable demand for this product. While thereare the usual headwinds facing the multifamily asset class, thegood news for investors is that its capital sources—both from thepublic and private sectors—remain confident that they can bemanaged.
Private Sector Dynamics
In the private sector, competition among the players remainsintense amid a push to give it more run room compared with what theGSEs currently enjoy.. "We want to be sure Fannie and Freddie arewhere they are needed but aren't crowding out any other sources ofcapital," Kelly said.
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