MBA Statement on FHFA Multifamily Lending Caps Adjustment
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WASHINGTON, D.C. (May 4, 2016) - The Federal Housing Finance Agency (FHFA) today announced that it has increased the 2016 multifamily lending caps for Fannie Mae and Freddie Mac from $31 billion to $35 billion, effective immediately.
David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association, issued the following statement:
"MBA supports FHFA's data-driven approach in reviewing the size of the multifamily loan origination market. Current consensus projections for the size of the 2016 market, including MBA's own, have increased to approximately $260 billion from earlier projections in the $220 billion range. FHFA's review and adjustment mechanism in its 2016 Scorecard and its close monitoring of changing market conditions will support continued liquidity in workforce rental housing, help avoid market disruptions, and allow for competition among capital sources that finance this vital market."