GSEs Launch COVID-19 Resources For Renters
May 8, 2020
Fannie Mae and Freddie Mac have both announced the introduction of their own online multifamily property lookup tools to help renters facing financial hardship due to COVID-19 understand the options available to them.
“In times of uncertainty, it is essential to have trusted resources to help inform our decisions, and Fannie Mae is here to help bridge that information gap. Renters and homeowners should not have to navigate a barrage of confusing and sometimes misleading information,” said Jeffery Hayward, executive vice president of Fannie Mae Multifamily. “Our Renters Resource Finder, part of our ongoing Here to Help education effort, will empower people in apartments to better understand their options.”
Both tools identify apartments and other multifamily properties financed by both Fannie Mae and Freddie Mac, whose residents are eligible for eviction protection under the federal CARES Act along with other resources. Under the CARES Act, renters living in properties with federally backed mortgage loans—including those purchased or securitized by the GSEs—are temporarily protected from eviction filings due to non-payment of rent through July 25, 2020.
“The multifamily loan lookup tool is a critical resource to help renters determine if they are protected by the COVID-19 eviction moratorium,” said Debby Jenkins, executive vice president and head of Freddie Multifamily. “We are committed to doing all we can to provide support, information and relief for our borrowers and their tenants experiencing financial hardships resulting from this national health crisis. I’d like to thank all those who worked tirelessly to develop this tool and get it up and running in a matter of days.”
Click here for more information on Fannie Mae’s Renters Resource Finder and click here for more information on Freddie Mac’s online lookup tool.
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