WASHINGTON, D.C. – February 23, 2012 – (RealEstateRama) — Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla., today issued the following statement regarding the Federal Housing Finance Agency’s proposal to revamp housing government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac:
“We commend FHFA Director Edward DeMarco for jump-starting the debate regarding the future role of Fannie Mae and Freddie Mac. As these discussions move forward, it is imperative that FHFA seeks input from all stakeholders – the Administration, Congress and the housing industry – to ensure that we ultimately develop a sound housing financing system that provides a stable and affordable supply of credit for home buyers and rental housing.
“Any final plan must include a strong federal backstop for both single-family and multifamily mortgage markets to ensure a consistent stream of mortgage credit and to allow rapid and effective responses to market dislocations and crises. Further, we urge caution regarding any abrupt move toward privatization of the multifamily platform.”