Federal Housing Finance Agency Print
Home / Media / Multifamily Property Owners in Forbearance Now Required to Inform Tenants of Eviction Suspension and Tenant Protections
News Release

Multifamily Property Owners in Forbearance Now Required to Inform Tenants of Eviction Suspension and Tenant Protections

Enterprises Also Improve Online Loan Look-up Tool

FOR IMMEDIATE RELEASE
8/6/2020

​​​Washington, D.C. – To increase awareness of available tenant protections, the Federal Housing Finance Agency (FHFA) announced today that multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) who enter into a new or modified forbearance agreement must inform tenants in writing about tenant protections during the multifamily property owner's forbearance and repayment periods.

Landlords with Enterprise-backed mortgages can enter new, or if qualified, modified forbearance if they experienced or continue to experience a financial hardship due to the COVID-19 emergency. While in forbearance, the property owners must agree not to evict tenants solely for the nonpayment of rent. FHFA previously announced additional tenant protections that apply during the repayment periods. These protections include:

  • Giving tenants at least a 30-day notice to vacate;
  • Not charging tenants late fees or penalties for nonpayment of rent; and
  • Allowing tenants flexibility to repay back rent over time and not in a lump sum.

“Landlords in forbearance must notify their tenants that they cannot be evicted for nonpayment of rent due to the pandemic," said Director Mark Calabria. “If tenants are able to pay their rent, they should continue to do so."

In addition to the tenant notification, the Enterprises are also improving their online multifamily property loan look-up tools by putting the tenant protections on the look-up tools' landing page and by making it easier for tenants to find out if the multifamily property in which they reside has an Enterprise-backed mortgage.

FHFA will continue to monitor the coronavirus' impact on tenants, borrowers, and the mortgage market and update policies as needed. To better understand the protections and assistance the government is offering, please visit the joint Department of Housing and Urban Development, FHFA, and CFPB website at cfpb.gov/housing​.​

Attachments:

###

​The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.6 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.
Contacts:

Media:  Raffi Williams Raffi.Williams@FHFA.gov

© 2020 Federal Housing Finance Agency