NMHC, NAA Urge ‘Consistent Access’ to Debt

DeWitt told lawmakers that the GSEs’ losses in single-family “have overshadowed the strong mortgage financing and credit performance of the multifamily programs.”

WASHINGTON, DC—In weighing housing finance reform, it’s important not to recognize the differences between single-family and multifamily and to not paint in broad-brush strokes, industry associations testified before Congress on Thursday. Speaking before the House Financial Services Subcommittee on Housing and Insurance, chairman Robert DeWitt of the National Multifamily Housing Council told lawmakers that reform needs to provide “consistent access to debt capital across geographies, markets and product types if we are to meet the current and future demand for rental housing in America.”

Representing both the NMHC and the National Apartment Association, DeWitt cited six key principles that Congress needs to consider. Among these are the following: