WASHINGTON—Fannie Mae and Freddie Mac are ending their single-family rental pilot programs.
For the past two years the government-sponsored enterprises (GSEs) have participated in this market on a much larger scale in order to test it and learn.
While ending this program does not have a large impact on the credit union industry, it could indicate more changes for the GSEs are on the horizon, observed NAFCU.
Federal Housing Finance Agency (FHFA) Director Mel Watt said in a released statement the agency has learned that the "rental investor market continues to perform successfully without the liquidity provided by the enterprises."
The FHFA added that this exit does not mean the GSEs won't propose other changes to existing programs to meet the needs of the single-family rental market, or develop other ways to leverage this market as a path to homeownership.