Landlords In Federal Mortgage Forbearance Must Now Inform Renters Of Eviction Protection

After Congress let the CARES Act eviction moratorium lapse late last month, the Federal Housing Finance Agency announced today a new requirement designed to notify tenants about their rights. FHFA, which oversees the two mortgage-buying enterprises Freddie Mac and Fannie Mae, is now mandating that multifamily property owners with government-backed loans in forbearance inform renters about the eviction protections the policy extends to them. Even if the federal eviction ban expired and a slew of state and local halts are also being lifted, landlords who enter or modify their Fannie Mae or Freddie Mac mortgage forbearance must agree not to displace tenants solely for rent nonpayment. Now, they also must inform residents of this rule. Prior to FHFA’s policy change today, landlords did not have to disclose to renters that they are receiving loan forbearance. Instead, tenants could use a specially built digital portal to check whether their building had a federal mortgage in forbearance. Click to read more at