FHFA head Mel WattWASHINGTON, DC–The Federal Housing Finance Agency has pulled the plug on the single-family rental pilot programs underway at Fannie Mae and Freddie Mac. The GSEs will terminate their participation in this market, the regulator announced yesterday, except through their previously existing investor programs, which are Fannie Mae's Multiple Financed Properties and Freddie Mac's Investment Property Mortgages.
The FHFA has concluded that the private market can perform well in this space without the GSEs' participation.
“What we learned as a result of the pilots is that the larger single-family rental investor market continues to perform successfully without the liquidity provided by the Enterprises,” said FHFA Director Melvin Watt.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
