FHFA Shrinks Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps
The Federal Housing Finance Agency, Washington, D.C., decreased the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac slightly to $75 billion each.
FHFA bases the caps on multifamily originations market projections. The 2022 caps equaled $78 billion for each enterprise.
MBA President and CEO Bob Broeksmit, CMB, said given current market conditions and the expected decline in the multifamily originations market, FHFA’s slight decrease in next year’s caps is appropriate and ensures a level playing field across various capital sources.
“MBA commends FHFA for its continued commitment to affordable rental housing, including workforce housing, and for providing stable liquidity to the marketplace,” Broeksmit said. “We also appreciate FHFA’s flexibility should the caps need to be increased, and its decision to streamline certain mission-driven requirements.”
Broeksmit noted MBA will continue to work with FHFA, the GSEs and other stakeholders to increase the supply of affordable rental housing in communities across the country.
For more information about the GSE Multifamily Loan Purchase Caps, contact Stephanie Milner at 202-557-2747.