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 Releases, Statements, Speeches and Testimony

 

 

FHFA Announces Multifamily Tenant Protections358967/28/2021 4:00:00 AMNews Release<p>​​​​<strong>Washington, D.C.&#160;</strong>–&#160;Today, the Federal Housing Finance Agency (FHFA) announced that tenants of multifamily properties with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) who are subject to eviction for nonpayment of rent must be given 30 days’ notice to vacate before the tenant can be required to leave the unit. This requirement applies to all Enterprise-backed multifamily properties, regardless of whether the loan is in forbearance. </p><font color="#000000" face="Times New Roman" size="3"> </font><p>FHFA is working closely with the Enterprises to communicate the 30-day notice requirement to landlords of and tenants living in Enterprise-backed properties.</p><font color="#000000" face="Times New Roman" size="3"> </font><p>The Centers for Disease Control and Prevention’s (CDC) eviction moratorium expires on July 31, 2021.</p><font color="#000000" face="Times New Roman" size="3"> </font><p>“Many families across the country, particularly renters, are still struggling financially due to the COVID-19 pandemic. It is important to clearly communicate available protections to both landlords and tenants,” said Acting Director Sandra L. Thompson. “FHFA wants to ensure tenants in Enterprise-backed multifamily properties know their right to receive at least 30-days of notice before they are required to vacate their rental unit.”</p><font color="#000000" face="Times New Roman" size="3"> </font><p>On June 24, 2021, the White House published a <a href="https&#58;//www.whitehouse.gov/briefing-room/statements-releases/2021/06/24/fact-sheet-biden-harris-administration-announces-initiatives-to-promote-housing-stability-by-supporting-vulnerable-tenants-and-preventing-foreclosures/?utm_medium=email&amp;utm_source=govdelivery">Fact Sheet</a> outlining various federal initiatives to promote housing stability by supporting vulnerable tenants and preventing foreclosures. FHFA’s website also has a <a href="/Media/PublicAffairs/PublicAffairsDocuments/COVID_19_Tenant-Fact-Sheet_72821.pdf">Fact Sheet</a> on tenant protections for Enterprise-backed properties in response to COVID-19. </p><font color="#000000" face="Times New Roman" size="3"> </font><p>In addition, Emergency Rental Assistance funds made available by federal legislation are available to tenants who are behind on rent or continuing to experience hardship due to the COVID-19 pandemic. Tenants can learn more about Emergency Rental Assistance programs by visiting the Consumer Financial Protection Bureau’s online <a href="https&#58;//www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/renter-protections/find-help-with-rent-and-utilities/?utm_source=vanity&amp;utm_medium=outreach&amp;utm_campaign=renthelp">Rental Assistance Finder</a>.</p><font color="#000000" face="Times New Roman" size="3"> </font><p>For more information on options available to assist homeowners and renters impacted by COVID-19 visit <a href="/Homeownersbuyer/MortgageAssistance/Pages/Coronavirus-Assistance-Information.aspx">FHFA.gov</a> or <a href="https&#58;//www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/">CFPB.gov/housing</a>.&#160;<br></p><font color="#000000" face="Times New Roman" size="3"> </font>7/28/2021 2:00:28 PMHome / Media / FHFA Announces Multifamily Tenant Protections News Release FHFA is working closely with the https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index Up 1.7 Percent in May; Up 18.0 Percent from Last Year358707/27/2021 4:00:00 AMNews Release<p>​​​<strong>Washington, D.C. </strong>– House prices rose nationwide in May, up <strong>1.7 percent</strong> from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI<sup>®</sup>). &#160;House prices rose <strong>18.0 percent </strong>from May 2020 to May 2021. The previously reported 1.8 percent price change for April 2021 was unrevised.<br></p><p>For the nine census divisions, seasonally adjusted monthly house price changes from April 2021 to May 2021 ranged from +<strong>1.0 percent</strong> in the Middle Atlantic division to +<strong>2.4 percent</strong> in the Pacific division.&#160; The 12-month changes ranged from +<strong>15.4 percent</strong> in the West South Central division to +<strong>23.2 percent</strong> in the Mountain division.<br></p><p>“House prices continued their record-setting growth into May,&quot; said Dr. Lynn Fisher, FHFA's Deputy Director of the Division of Research and Statistics. “This trend will likely continue around the country as busy summer homebuying months maintain the pressure being felt in already tight housing markets.&quot;<br></p><p>The FHFA HPI is the nation's only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.&#160; The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels.&#160; FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.<br></p><p>FHFA releases HPI data and reports on a quarterly and monthly basis.&#160; The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.&#160; Additional indexes use other data including refinances, FHA mortgages, and real property records.&#160; All the indexes, including their historic values, and information about future HPI release dates are available on FHFA's website&#58; <a href="/HPI">https&#58;//www.fhfa.gov/HPI</a>.<br></p><p>FHFA will release its next HPI report on August 31, 2021 with data for the second quarter of 2021 and monthly data through June 2021.<br></p><p>​​<br></p>7/27/2021 1:25:14 PMHome / Media / FHFA House Price Index Up 1.7 Percent in May; Up 18.0 Percent from Last Year News Release 528https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Eliminates Adverse Market Refinance Fee339737/16/2021 4:00:00 AMNews Release <span style="font-size&#58;12pt;line-height&#58;115%;color&#58;black;"><strong></strong></span><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;"><strong>Washington, D.C.</strong>&#160;– Today, to help families reduce their housing costs, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will eliminate the Adverse Market Refinance Fee for loan deliveries effective August 1, 2021.</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">To allow families to save more money, lenders will no longer be required to pay the Enterprises a 50-basis point fee when they deliver refinanced mortgages. The fee was designed to cover losses projected as a result of the COVID-19 pandemic. The success of FHFA and the Enterprises' COVID-19 policies reduced the impact of the pandemic and were effective enough to warrant an early conclusion of the Adverse Market Refinance Fee. FHFA's expectation is that those lenders who were charging borrowers the fee will pass cost savings back to borrowers.</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">&quot;The COVID-19 pandemic financially exacerbated America's affordable housing crisis. Eliminating the Adverse Market Refinance Fee will help families take advantage of the low-rate environment to save more money,&quot;&#160;said Acting Director Sandra L. Thompson. &quot;Today's action furthers FHFA's priority of supporting affordable housing while simultaneously protecting the safety and soundness of the Enterprises.&quot;</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">The vast majority of Enterprise borrowers have successfully exited COVID-19 forbearance. In April, approximately 2 percent of single-family mortgages guaranteed by the Enterprises remained in forbearance, down from a high of approximately 5 percent in May 2020. FHFA will continue to monitor the housing finance system, making policy adjustment in coordination with the Enterprises as necessary.</span><br></p>7/16/2021 2:06:53 PMHome / Media / FHFA Eliminates Adverse Market Refinance Fee News Release To allow families to save more 37398https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx