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SAN DIEGO—Recently the Federal Housing Finance Agency created a new group with the goal of ensuring that both Fannie Mae and Freddie Mac foster a competitive, liquid and resilient multifamily market. “By creating a new group, it speaks to a commitment and dedication to focus on affordability in multifamily,” according to Siobhan Kelly, associate director for multifamily at the FHFA.

Kelly made her comments during a panel session at the recent MBA CREF conference, where multifamily finance was a chief topic due to, no doubt, the insatiable demand for this product. While there are the usual headwinds facing the multifamily asset class, the good news for investors is that its capital sources—both from the public and private sectors—remain confident that they can be managed.

Private Sector Dynamics

In the private sector, competition among the players remains intense amid a push to give it more run room compared with what the GSEs currently enjoy.. “We want to be sure Fannie and Freddie are where they are needed but aren’t crowding out any other sources of capital,” Kelly said.

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