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
Safety
Jun 29, 2026
Use NAHB Resources to Protect Workers from Heat and UV ExposureAs NAHB recognizes UV Safety Awareness Month in July, it is important for home builders and general contractors to educate workers about the potential risks associated with ultraviolet (UV) radiation and have plans and resources in place to keep them safe on the jobsite.
Advocacy
Jun 29, 2026
From Builder to Elected Official: How to Run for Office with ConfidenceNAHB’s election guidebook program can help NAHB members and industry leaders who are thinking about running for office lead effective state or local campaigns.
Latest Economic News
Economics
Jun 30, 2026
Construction Job Openings IncreaseThe number of open positions in the construction sector increased in May, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down measurably from three years ago due to declines in construction activity, particularly in housing.
Economics
Jun 26, 2026
Property Tax Revenue Leads State and Local Tax Growth in Q1 2026Property tax revenue collected by state and local governments was higher in the first quarter of 2026 according to the Census Bureau’s quarterly summary of state and local tax revenue.
Economics
Jun 25, 2026
State-Level Economic Growth Strengthened in the First Quarter of 2026State economic growth strengthened in the first quarter of 2026, with real GDP increasing in 46 states and the District of Columbia. According to the Bureau of Economic Analysis (BEA), state-level growth rates ranged from a 4.5% annualized increase in Washington to a 1.6% decline in South Dakota, while Delaware’s economy was essentially unchanged during the quarter.