According to Phil Weber, (Senior Vice President of Multifamily, Fannie Mae) it will be "business as usual" for the multifamily group at Fannie Mae. He classified Fannie's book of business in multifamily as being in excellent shape and that the newly formed conservatorship will not change the current business model.
Peter Donovan indicated that even some of the larger multifamily transactions will not be subject to regulator review. Fannie and Freddie (although Mike May was not on the call) will continue to manage the day to day operations on the multifamily side.
Peter Donovan believes that this move by the government removes the uncertainty from the market and will have a positive impact on a multifamily market with extremely solid fundamentals.
Click here for a recording of the call.
There is quite a bit of interesting information in the first 30 minutes or so; it is worth a listen.
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