The GSEs will conclude their two-year-long single-family rental pilot programs.
By Lauren Shanesy | MFE
The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, will conclude their single-family rental pilot programs and terminate their participation in the single-family rental market, according to the Federal Housing Finance Agency (FHFA).
However, both GSEs will continue to participate in their previously existing investor programs, Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages.
Over the past two years, both organizations have dabbled in the single-family rental market through pilots designed to “test and learn” more about the market and best practices. In addition, FHFA convened a Single-Family Rental Workshop in June 2017 to solicit feedback, identify market challenges and opportunities, and gain perspective on the overall market. Participants in the pilot transactions included institutional investors, which own only a small sliver of single-family rental stock, as well as small and mid-sized investors with fewer financing options.