FHFA: FHA Announces Multifamily Tenant Protections for Properties Financed by Fannie Mae and Freddie Mac
Tenant protections will be included in new multifamily loan agreements beginning in February 2025 The Federal Housing Finance Agency (FHFA) today announced a set of required tenant protections for multifamily properties financed by Fannie Mae and Freddie Mac (the Enterprises). This announcement results from FHFA’s extensive and ongoing engagement with market participants and key stakeholders…
HUD: $40 Million Made Available to Prevent Evictions and Prevent Homelessness
The funding will provide legal assistance at no cost to low-income tenants. The U.S. Department of Housing and Urban Development (HUD) announced the availability of $40 million in grant funds for eligible non-profit or governmental entities to provide no cost legal assistance to low-income tenants at risk of or subject to eviction from their homes….
HUD: Proposed “30-Day Notice” Rule for Nonpayment of Rent Announced
Proposed rule would provide residents of public housing or in properties receiving project-based rental assistance 30 days notice to cure lease violations for nonpayment of rent The U.S. Department of Housing and Urban Development (HUD) will publish a Notice of Proposed Rulemaking in the Federal Register on Friday, December 1. If finalized, the rule would…
HUD: $2 Million Awarded to Assess the Impact of Emergency Rental Assistance on Housing Stability
The U.S. Department of Housing and Urban Development (HUD) today awarded $2 million in funding to assess the impact of the Emergency Rental Assistance (ERA) program. Three awardees, Abt Associates; Princeton University; and the University of Pennsylvania in collaboration with the University of California at Berkeley, will receive the funds under the FY2022 Impact Evaluation…
HUD: Important New Milestone Reached in American Rescue Plan’s Emergency Housing Voucher Program
“At HUD we are pleased that over 35,000 households have been averted from homelessness and have successfully leased their own rental housing thanks to our Emergency Housing Voucher Program. This marks a major step forward in our efforts to realize the ambitious goals we set when the program was established through the President’s American Rescue…
CFPB: Report Released on Mortgage Servicing Metrics
Hundreds of thousands of borrowers are still behind on loans after COVID-19 mortgage protections, forbearance end Today, the Consumer Financial Protection Bureau (CFPB) published a report examining mortgage servicers’ responses to the COVID-19 pandemic. The data, collected across 16 large servicers from May through December 2021, reveal homeowners continue to face significant risks and challenges…
HUD: Eviction Protection and Diversion Program Expanded with Additional $20 Million
The U.S. Department of Housing and Urban Development (HUD) on Monday announced $20 million in new grants for its Eviction Protection Grant Program, doubling the amount originally allocated for the launch of the Program in November 2021. HUD has offered grants to 11 organizations, in addition to the 10 organizations selected in November, to help non-profits…
HUD: 2021 HUD Year in Review Fact Sheet Released
The U.S. Department of Housing and Urban Development (HUD) this year took bold action in pursuit of the agency’s mission to create strong, sustainable, inclusive communities and quality affordable homes. These actions aligned with key Biden-Harris Administration priorities including ensuring equity, removing barriers to homeownership, expanding the nation’s housing supply, and keeping Americans housed. Below…
HUD: $20 Million Awarded for Eviction Protection and Diversion
The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced $20 million in inaugural grants from its Eviction Protection Grant Program, the first of its kind for the Department. These grants will be awarded to legal service providers to assist in providing legal assistance to low-income tenants at risk of or subject to…
HUD: New Rule Issued Protecting Tenants Facing Eviction for Non-Payment of Rent in HUD-Assisted Properties
The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it will publish a rule that prohibits the eviction of tenants facing eviction for nonpayment of rent from HUD-subsidized public housing and certain properties with project-based rental assistance without providing a 30-day notice period that includes information about available federal emergency rental…