The Consumer Financial Protection Bureau and the Federal Trade Commission on Monday issued a warning to landlords to “stop illegal evictions” during the Covid-19 pandemic. The statement was issued as the Centers for Disease Control and Prevention extended its eviction moratorium, banning landlords from kicking tenants out for being unable to make their rental payments. “Staff at both agencies will be monitoring and investigating eviction practices, particularly by major multistate landlords, eviction management services, and private equity firms, to ensure that they are complying with the law,” CFPB Acting Director Dave Uejio and FTC Acting Chairwoman Rebecca Slaughter said. “Evicting tenants in violation of the CDC, state, or local moratoria, or evicting or threatening to evict them without apprising them of…
The Biden Administration announced Tuesday that it will extend the Federal Housing Administration’s foreclosure and eviction moratoriums into the summer, while also extending mortgage forbearance options. The ban on foreclosure and evictions will be in place through June 30, the Department of Housing and Urban Development announced. The Office of Public and Indian Housing also is planning to announce similar relief for Native American and Native Hawaiian homeowners. “As President Biden has made clear, it is urgent that we help homeowners throughout the nation who are struggling financially from this unprecedented national emergency,” Acting HUD Secretary Matthew Ammon said. “The steps we are taking today will provide both immediate relief to those in desperate need of assistance and help more…
The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned evictions until March 31. They had been set to expire February 28. Originally enacted last year to protect homeowners during the Covid pandemic, the moratorium applies to Fannie and Freddie-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by Fannie and Freddie through foreclosure or deed-in-lieu of foreclosure transactions. “To keep families in their home during the pandemic, FHFA is allowing borrowers to be in COVID-19 forbearance for up to 15 months and extending the Enterprises’ foreclosure and eviction extension,” said Director Mark Calabria. FHFA announced it projects expenses of $1.5…
Another month of security. The Federal Housing Finance Agency announced Wednesday that Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate owned evictions until at least January 31. Originally enacted earlier this year to protect homeowners during the Covid pandemic, the moratorium applies to Fannie and Freddie-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by Fannie and Freddie through foreclosure or deed-in-lieu of foreclosure transactions. “Extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic,” Director Mark Calabria said. “This extension gives peace of mind to the more than 28 million homeowners with an Enterprise-backed mortgage.” FHFA projects…
The National Association of Home Builders has filed suit in federal court challenging the Centers for Disease Control and Prevention’s order that bans residential evictions through the end of the year to prevent the spread of Covid-19. The CDC order, issued in September under the Public Health Service Act, covers renters of apartments or residential properties – but does not include a ban on foreclosures on home mortgages. It requires renters to certify to landlords that they would become homeless or forced to live with others “in close quarters” if they were to be evicted. NAHB objects to the order because it provides “no relief for landlords who must continue to pay bills, maintain the units and pay their employees…
The Centers for Disease Control and Prevention issued a public health order Tuesday that bans residential evictions through the end of the year to prevent the spread of Covid-19. The CDC order, issued under the Public Health Service Act, covers renters of apartments or residential properties – but does not include a ban on foreclosures on home mortgages. It requires renters to certify to landlords that they would become homeless or forced to live with others “in close quarters” if they were to be evicted. “In the context of a pandemic, eviction moratoria—like quarantine, isolation, and social distancing—can be an effective public health measure utilized to prevent the spread of communicable disease,” the CDC said in the order posted in the…
