Congressman Royce, SEC Chair White to Work on Full mREIT Participation in Agency CRT Transactions

This morning, Securities and Exchange Commission (“SEC”) Chair Mary Jo White testified before the House Committee on Financial Services regarding funding for the agency. During the hearing, Congressman Ed Royce (R-CA) discussed the desire to increase private capital in the housing market through Fannie Mae and Freddie Mac’s credit risk sharing (“CRT”) programs. Mr. Royce stated that an increased investor base is required to grow the CRT market, and a logical participant would be Real Estate Investment Trusts (“REIT’s”). “REIT’s are a logical investor in these transactions…Could you work with us to clarify that all of these CRT’s qualify as good REIT assets that do not undermine investor protections?” asked Mr. Royce.

“Surely, we would be happy to work with you on that,” responded Chair White.   

SFIG has long advocated for clarification of mREIT rules to allow for full participation in CRT transactions, and increase the amount of private capital in the housing sector. ContactMichael.Flood@sfindustry.org to learn more about SFIG’s Congressional outreach efforts.

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