On November 21st 2022, NAR’s 2023 President Kenny Parcell sent a letter to Sandra Thompson, Director of the Federal Housing Finance Agency (FHFA), thanking her for receiving NAR CEO Bob Goldberg and staff on November 3rd and discussing ways the two groups can collaborate to ease the affordability burden on homebuyers.
Specifically, Mr. Parcell thanked the Director for her work on special purpose credit programs that include down payment assistance, which are two products that NAR supports. He urged her to consider further reductions to the premiums charged by Fannie Mae and Freddie Mac. Finally, he recognized the FHFA’s initiative to work with tech developers and noted NAR’s role in supporting the development of real estate-focused technology to support the industry. Mr Parcell offered to share insights on NAR’s journey.