MBA Statement on FHFA’s 2023 Multifamily Loan Purchase Caps
MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the Federal Housing Finance Agency's (FHFA) announcement of the 2023 multifamily lending purchase caps for the GSEs ($75 billion each for Fannie Mae and Freddie Mac):
"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. We also appreciate FHFA's flexibility should the caps need to be increased, and its decision to streamline certain mission-driven requirements.
"MBA looks forward to continuing its work with FHFA, the GSEs, and other stakeholders to increase the supply of affordable rental housing in communities across the country.”