By Cindy Daley, Director of Community Development Initiatives
Federal Housing Finance Agency Seeks Input
The Federal Housing Finance Agency (FHFA) wants to hear from you. On May 30, FHFA issued a Request for Input (RFI) on whether the agency should establish protections for tenants in multifamily properties with mortgages backed by Fannie Mae and Freddie Mac.
FHFA is the federal agency that oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Bank (FHLB) system. Part of Fannie’s and Freddie’s (the Enterprises) mission is to finance affordable housing. Under the Biden administration, federal agencies are examining ways to support tenants and strengthen their rights. The Administration released a Blueprint for a Renters’ Bill of Rights in January. FHFA’s RFI is part of the process for establishing rights for renters in Fannie- and Freddie-backed multifamily properties.
FHFA is seeking input in five areas: (1) general questions on tenant protections, (2) access to housing, (3) access to information, (4) tenant housing stability, and (5) risk management [for Fannie and Freddie]. Each category includes a number of specific questions, such as “What actions should the Enterprises take, if any, to ensure universal acceptance of sources of income at Enterprise-backed multifamily properties?” and “ How can the owners and managers of Enterprise-backed multifamily properties reduce evictions and improve housing stability of tenants?”
The RFI is a great opportunity for tenants, housing providers, and community advocates to influence federal policy.* Should FHFA limit criminal background checks? Should property managers be required to accept portable applications in order to keep tenants from paying multiple application fees, or simply be limited in how much they can charge for an application? What about “good cause” eviction requirements? FHFA wants input on all areas of tenant life, from application through occupancy and eviction.
You can submit comments through FHFA’s website or by mail. (Instructions are in the RFI.) Comments are due by July 31. Regional Housing Legal Services will be submitting comments and we would love to hear from you whether or not you are submitting your own comments. It is important to us that our comments reflect your concerns.
For more information, contact Cindy Daley at cindy.daley@rhls.org or Bob Damewood at Robert.Damewood@rhls.org.
*Commenting on the RFI is not lobbying for IRS 501(c)(3) purposes because it is not an attempt to influence legislation. 26 CFR § 56.4911-2(b)