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FHFA announces new eviction protection for GSE-backed mortgages
The FHFA Wednesday announced new eviction protections for tenants of multifamily properties with mortgages backed by Fannie Mae or Freddie Mac – the government-sponsored enterprises (GSEs) – that are subject to eviction for nonpayment of rent. Under the protection, tenants must be given 30 days' notice to vacate before the tenant can be required to leave the unit.
This requirement applies to all GSE-backed multifamily properties, regardless of whether the loan is in forbearance.
"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 FHFA Acting Director Sandra Thompson in a press release. "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."
Of note, the CDC's eviction moratorium expires on July 31.
For more information, the FHFA has a Fact Sheet on tenant protections for GSE-backed properties in response to the pandemic.