Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

https://www.fanniemae.com/newsroom/fannie-mae-news/multifamily-protections-renters-extend-indefinitely

Press Release
Fannie Mae Extends Multifamily Protections for Renters Indefinitely
September 24, 2021
Multifamily Borrowers Remain Eligible for COVID-19-related Forbearance
WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced its multifamily COVID-19 forbearance program has been extended indefinitely to provide continued support for Fannie Mae-financed multifamily property owners and renters in multifamily units experiencing financial difficulties due to COVID-19. The program, which requires landlords to suspend all evictions for renters unable to pay rent during the forbearance period, was formerly set to expire on September 30, 2021.

"As financial and economic uncertainties around COVID-19 persist, Fannie Mae is committed to providing continued forbearance options for Fannie Mae multifamily borrowers," said Michele Evans, Executive Vice President and Head of Multifamily. "This will allow for the continuation of essential tenant protections to help keep renters in their apartments as the recovery process continues."

For any Fannie Mae-financed multifamily properties with a new or modified COVID-19 forbearance plan, the property owner must agree not to evict tenants solely for the nonpayment of rent while the property is in forbearance and inform tenants in writing about tenant protections available during the property owner’s forbearance and repayment periods, which include:

Allowing the tenant flexibility to repay back rent over time and not in a lump sum;
Not charging the tenant late fees or penalties for non-payment of rent; and
Giving the tenant at least a 30-day notice to vacate.
Here to Help
Since March 2020, Fannie Mae has taken a number of actions to help renters facing financial hardship due to COVID-19, including extending eviction protections to multifamily renters when the property owner received a forbearance and announcing a Renters Resource Finder tool.

These and the many other resources, including KnowYourOptions.com, that we make available are part of our ongoing Here to Help education effort, aimed at helping homeowners and renters impacted by COVID-19 understand the options available to them. For renters, KnowYourOptions.com provides straightforward information to understand rent relief and assistance options and to understand the available tenant protections.

Renters also have access to Fannie Mae’s Disaster Response Network, which offers free assistance from U.S. Department of Housing and Urban Development-certified housing counselors who can help navigate financial challenges caused by COVID-19, such as information and guidance on accessing federal and state housing assistance, unemployment benefits, nutritional assistance, and other available programs. The Disaster Response Network can be accessed from the Renters Resource Finder on KnowYourOptions.com, or by calling 877-833-1746.

Freddie:
As of Freddie Mac’s most recent report, there are 304 forborne securitized loans, representing about 1.1% of Freddie Mac’s total securitized loans as measured by unpaid principal balance. In recent months, very few loans have started a new forbearance agreement, and no new forbearances were started in August, a first for the program.

FHFA Extends Availability of COVID-19 Multifamily Forbearance
??Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners as needed, subject to the continued tenant protections FHFA has imposed during the pandemic. This is the fourth extension of the programs, which were set to expire September 30, 2021. On October 1, 2021, FHFA will allow the Enterprises to continue offering COVID-19 forbearance to qualified multifamily owners, unless otherwise instructed by FHFA.

"Given the uncertain nature of this pandemic, FHFA is taking further action to protect renters, property owners, and the mortgage market," said Acting Director Sandra L. Thompson.

Property owners with Enterprise-backed multifamily mortgages can enter a new or, if qualified, modified forbearance if they experience a financial hardship due to the COVID-19 emergency. Property owners who enter into a new or modified forbearance agreement must:

Inform tenants in writing about tenant protections available during the property owner's forbearance and repayment periods; and
Agree not to evict tenants solely for the nonpayment of rent while the property is in forbearance.
Additional tenant protections apply during the repayment periods. These protections include:

Giving tenants at least a 30-day notice to vacate;
Not charging tenants late fees or penalties for nonpayment of rent; and
Allowing tenant flexibility in the repayment of back-rent over time, and not necessarily in a lump sum.
FHFA may extend or sunset its policies based on updated data and the impacts of COVID-19. Homeowners and renters can visit consumerfinance.gov/housing for up-to-date information on their relief options, protections, and key deadlines.

Freddie:

As of Freddie Mac’s most recent report, there are 304 forborne securitized loans, representing about 1.1% of Freddie Mac’s total securitized loans as measured by unpaid principal balance. In recent months, very few loans have started a new forbearance agreement, and no new forbearances were started in August, a first for the program.