March 24, 2020
The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will offer mortgage forbearance for multifamily property owners who suspend all evictions for renters unable to pay rent due to the impact of the coronavirus. This means that buildings with Fannie Mae and Freddie Mac mortgages have the opportunity to keep their tenants in stable housing and continue to pay their mortgages. Given the ongoing research around the need for stable affordable housing and the impacts of eviction on individuals already marginalized households, this gives landlords an unequivocal reason to stop eviction filings, late fees and threats of eviction due to nonpayment.
Based on our research, below are the properties with mortgages backed by Fannie Mae and Freddie Mac. We call on our elected officials and government agencies to support the work of legal services providers and advocates in holding property owners accountable and maximize the positive impact to tenants of this policy.