X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Fannie Mae CEO Herb Allison is, if the rumors are true, about to be nominated to be assistant secretary for the Office of Financial Stability. That’s the office in charge of running the $700B TARP program. From all accounts, Allison has stabilized Fannie Mae as much as possible, given its balance sheet and record setting losses quarter after quarter lately. He’s also kept the focus on Fannie Mae’s multifamily mission – which is the only source of finance right now for this asset class. Of course it’s good news for the TARP program that a seasoned executive whose been in the thick of its since last September will be in charge. What about Fannie Mae though? It really is the only game in town for developers and property owners. AvalonBay, just to cite on example, recently closed on a $400M fund that will be levered to deliver $1.5B in purchasing power. What has it acquired so far? Nada. And it won’t until the economy stabilizes. Let’s hope whomever steps up to the role of CEO at Fannie Mae keeps that in mind.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.