Monday, September 22, 2008

Federal Housing Finance Agency Affirms Support for Continued Multifamily Financing by Fannie and Freddie During Conservatorship

A recent statement from the Federal Housing Finance Agency (FHFA) affirms the "importance of all aspects of the Enterprises’ multifamily businesses — including the LIHTC (low-income housing tax credit) area and liquidity facilities for remarketed mortgage revenue bonds for a healthy secondary market and housing affordability. In particular, support for multifamily housing finance is central to the Enterprises’ public purpose."

"As conservator," the statement continues, "FHFA expects each Enterprise to continue underwriting and financing sound multifamily business. We also do not expect either company to liquidate its portfolio of LIHTC or mortgage-revenue bonds."

For more information about this statement or the Federal Housing Finance Agency, please visit the Office of Federal Housing Enterprise Oversight’s Web site.

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