On June 23, Nareit submitted the mREIT Council Comment to the Federal Housing Finance Agency (FHFA) in response to its February 2020 Request for Input (RFI) on Federal Home Loan Bank (FHLB) Membership. The comment, which was transmitted by a letter from Nareit President & CEO Steve Wechsler, was prepared with the assistance of a task force of mREIT Council member volunteers, including senior leaders of several Nareit Council member mREITs.
Nareit's comment sets forth the Council's strong view that publicly traded mREITs can readily demonstrate alignment with the mission and can be strong contributors to the FHLB system, expanding its ability to finance single and multi-family homes for Americans. The comment also emphasizes that notwithstanding the mortgage market turbulence accompanying the global pandemic, no FHLB has suffered losses on advances to any mREIT captive.
(Contact: Victoria Rostow at vrostow@nareit.com)