FHFA, Treasury Suspending Certain Portions of 2021 Preferred Stock Purchase Agreements
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) announced today they are suspending certain policy provisions added in January 2021 to the Preferred Stock Purchase Agreements (PSPAs) that govern Treasury’s support for Fannie Mae and Freddie Mac (the Enterprises).
NAHB, together with the American Bankers Association, the Mortgage Bankers Association and the National Association of Realtors®, sent a letter to Treasury and FHFA on Sept. 9, 2021 recommending the policy changes that we believe have caused -- or had the potential to cause -- disruptions to the housing market. The suspended provisions include limits on the Enterprises’ cash windows (loans acquired for cash consideration), multifamily lending, loans with higher risk characteristics, and second homes and investment properties.
The suspended provisions include limits on the Enterprises’ cash windows (loans acquired for cash consideration), multifamily lending, loans with higher risk characteristics, and second homes and investment properties.
The Enterprises will continue to build capital under the continuing provisions of the PSPAs. FHFA also continues to direct the Enterprises to operate in a safe and sound manner consistent with their statutory mission, and to foster resilient housing finance markets given prevailing housing market conditions, which include elevated demand relative to available inventory. Additionally, FHFA is reviewing the Enterprise Regulatory Capital Framework and expects to announce further action in the near future.
Latest from NAHBNow
Advocacy
Jul 24, 2026
Latest Tariff Actions Add Uncertainty to Housing MarketRecent tariff developments could create more uncertainty for home builders over building material supply chains and pricing.
Economics
Jul 24, 2026
New Home Sales Edge Higher as Affordability Challenges PersistSales of newly built single-family home rose 1.6% in June to a seasonally adjusted annual rate of 628,000, up from an upwardly revised May estimate, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales is down 5.6% from a year earlier.
Latest Economic News
Economics
Jul 24, 2026
New Home Sales Edge Higher as Affordability Challenges PersistAffordability challenges continued to weigh on the new-home market in June, as elevated mortgage rates, rising inflation and broader economic uncertainty kept many prospective buyers on the sidelines.
Economics
Jul 23, 2026
Acquisitions Increasing Among Home BuildersAt the start of 2026, most home builders predicted that high mortgage rates and hesitancy among buyers would be their toughest challenges this year. They weren’t wrong: the 30-year mortgage rate averaged 6.49% in June and housing demand has weakened, as reflected by flat mortgage applications in the first half of the year.
Economics
Jul 22, 2026
What Do Home Buyers Purchase After They Move InBuying a home typically generates a wave of consumer spending beyond the purchase of the home itself. Following a home purchase, households often buy appliances and furnishings and undertake remodeling and repair projects to make the home fit their needs and preferences.