The Federal Housing Finance Agency (FHFA) announced on May 4 that both Fannie Mae and Freddie Mac have created online multifamily property lookup tools. Under the CARES Act, renters living in properties with mortgages backed by Fannie Mae or Freddie Mac are covered by a temporary eviction moratorium, and owners of these properties can enter forbearance as a result of lost income due to COVID-19. While the property lookup tools allow some renters to see if they are covered under the CARES Act eviction moratorium, the databases do not include information on properties with 1 to 4 units, which comprise about half of the portfolio. NLIHC sent a letter on April 23 urging FHFA Director Mark Calabria to release this information. NLIHC has also created a searchable database and map, which includes data on multifamily properties supported by several federal programs. During this time of economic uncertainty, it is vital that renters know if they are protected under the federal moratoriums within the provisions of the CARES Act.
NLIHC’s database and map of multifamily properties help renters and their allies know if they are protected. The tool and map include data on affordable rental housing supported by the Low-Income Housing Tax Credit, HUD and USDA programs, or multifamily housing with mortgages insured by FHA or securitized by Fannie Mae or Freddie Mac. While the database is not yet exhaustive, NLIHC will continue to update it as new data become available.
View the Freddie Mac tool at: https://tinyurl.com/y7svkytc
View the Fannie Mae tool at: https://tinyurl.com/ybqvztsh
View the NLIHC database at: https://nlihc.org/federal-moratoriums
Read NLIHC’s letter to FHFA at: https://tinyurl.com/y6ukeswu