The Federal Housing Finance Agency (FHFA) announced on April 13 that it will issue in May a Request for Input (RFI) regarding multifamily tenant protections. Sign up here to receive details about FHFA’s upcoming RFI and its work to address the concerns of tenants and other stakeholders in the multifamily housing market.
Previously, FHFA announced that, as part of its work on the White House Tenant Protection Interagency Policy Council and as reflected in the White House’s recently published Blueprint for a Renters Bill of Rights (see Memo, 1/30), the agency would conduct a public stakeholder engagement process to identify tangible solutions for addressing the affordability challenges renters are facing, particularly among underserved communities. The announcement states that FHFA is committed to a transparent process that includes broad participation by diverse voices. In addition, FHFA instructed Fannie Mae and Freddie Mac (the Enterprises) to explore the feasibility of expanding multifamily tenant protections for properties they finance and to identify strategies and activities that could facilitate a greater amount of affordable rental housing supply.
During NLIHC’s recent Housing Policy Forum, Sandra Thompson, FHFA director, explained that she is keenly aware of how FHFA policies affect people and of the necessity of ensuring those policies are fair and accessible and help guarantee safe, affordable housing (see Memo, 4/3). Referring to the White House’s Blueprint for a Renters Bill of Rights, Director Thompson said that rent increases for the lowest-income renters have been “egregious” and that consequently FHFA is seeking opportunities to adopt tenant protections, including policies that limit egregious rent increases at properties financed with loans backed by Fannie Mae and Freddie Mac. In addition to receiving input from industry stakeholders, such as developers and owners, Ms. Thompson stated that it is essential that FHFA hear from tenants about their perspectives regarding tenant protection policies. To that end, FHFA will conduct listening session roundtables involving tenants, as well as workshops and webinars. FHFA will also issue a Request for Information (RFI) encouraging members of the public to suggest ideas for tenant protections.
Read the FHFA announcement at: https://bit.ly/3zWr8ax
To receive details about FHFA’s upcoming RFI and its work to address the concerns of tenants and other stakeholders in the multifamily housing market, sign up here.
Read the White House’s Blueprint for a Renters Bill of Rights at: https://bit.ly/3mxVFsc