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
Economics
Jun 18, 2026
Fed Drops Easing Bias, Clouding Near-Term Outlook for Housing MarketDespite a change in leadership, the Federal Reserve decided not to change interest rates at the June Federal Open Market Committee (FOMC) meeting Wednesday. It was the fourth consecutive meeting in which the short-term federal funds rate stayed the same at a top rate of 3.75%.
Associate Members Committee
Jun 17, 2026
Apply Now To Become the Next National Associate ChairA National Associate Chair's role is is to bring Associate initiatives, questions and concerns to the other Builder NACs and the senior officers of NAHB for collaboration.
Latest Economic News
Economics
Jun 18, 2026
Gains for Household Real Estate AssetsThe market value of households’ real estate assets rose to a new high in the first quarter reaching $48.7 trillion, according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. This level is 1.7% higher than in the fourth quarter and is 2.6% higher than a year ago.
Economics
Jun 17, 2026
A Laconic Statement: Hawkish Hold and New Plans from the FedWith a new Fed Chair and plans for evolving operating strategies, the Federal Reserve maintained its target policy rate at the conclusion of the June Federal Open Market Committee (FOMC) meeting. For the fourth consecutive meeting, the FOMC maintained the short-term federal funds rate at a top rate of 3.75%.
Economics
Jun 16, 2026
Housing Starts Weaken in May as Multifamily Construction SlowsHousing starts fell sharply in May, driven by a steep drop in multifamily construction. Meanwhile, single-family buildings also slipped amid high interest rates, rising construction costs and ongoing labor shortages.