Federal Housing Finance Agency Acting Director Edward J. DeMarco couldn’t have been more specific about his plans for the GSEs' multifamily finance operations: there will be a 10% reduction target in business volume from 2012 levels—achieved through some combination of increased pricing, more limited product offerings, and tighter overall underwriting standards.
This is the first tangible sign that, after years of rumblings, the government means business with its plans to scale back the GSEs. For the multifamily space, this is no small consideration. GSE support has, in part, kept the sector robust even during the recession. With a 10% haircut in financial support, how will the sector fare?
Read more...Multifamily Finance Readies for a Haircut - Daily News Article - GlobeSt.com