MBA Statement on FHFA’s 2024 Multifamily Loan Purchase Caps
November 14, 2023
WASHINGTON, D.C. (November 14, 2023) — MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the Federal Housing Finance Agency's (FHFA) announcement of the 2024 multifamily lending purchase caps for Fannie Mae and Freddie Mac (the GSEs):
"A cap of $70 billion for each of the GSEs is reasonable, given the challenging market conditions and high interest rate environment expected in 2024.
“We appreciate FHFA’s ongoing flexibility should adjustments to the caps and mission-driven requirements be necessary and believe exempting loans supporting workforce housing from the cap levels will help to ensure GSE financing is a viable option for housing providers in the current environment.
"MBA supports a level playing field across various capital sources and will continue to work with FHFA, the GSEs, and other industry stakeholders on ways to increase affordable rental housing.”