FHFA Announces 3 New Tenant Protection Policy Changes
The Federal Housing Finance Agency (FHFA) today announced three policy changes effective for all new multifamily mortgage loan applications signed on or after Feb. 28, 2025.
At that time, Fannie Mae and Freddie Mac’s loan documents will require borrowers to provide tenants:
- A 30-day notice of rent increases;
- A five-day grace period for late rent; and
- A 30-day notice of the lease term expiration.
These provisions will not apply to existing mortgages or loan documents signed before the effective date in February 2025.
FHFA, along with Fannie Mae and Freddie Mac, are expected to release more details about the implementation of these policies in August. They also announced that they “will continue to evaluate options for codifying additional tenant protections that advance sustainable housing in a manner that reflects the needs of both tenants and housing providers.”
Latest from NAHBNow
Sponsored Content
Apr 03, 2025
100 Builders Wanted: Join the Mission. Build for Profit. Build a Legacy.For years, Sound Capital has been dedicated to empowering builders to handle more projects, accelerate their pace, and innovate effectively. That is why Sound Capital is encouraging builders to see why 95% of its clients are repeat customers.
Material Costs
Apr 03, 2025
In Win for NAHB, Canadian Lumber Exempt from Trump’s Global Reciprocal TariffsThe tariff exceptions for Canada and Mexico amount to a major win for NAHB, but because of the complexity of the tariffs, builders should expect more volatility in pricing while companies work to understand and adjust to these new tariffs. NAHB will continue to advocate for lower tariffs on lumber and all other all building materials.
Latest Economic News
Economics
Apr 01, 2025
Private Residential Construction Spending Rises in FebruaryPrivate residential construction spending increased by 1.3% in February, rebounding from a 1.2% dip in January. The growth was largely driven by higher spending on single-family construction and residential improvements. On a year-over-year basis, the February report showed a 1.6% gain, indicating a modest growth in private residential construction spending during market uncertainties.
Economics
Apr 01, 2025
Soft Job Openings Estimate for ConstructionAfter a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the February Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Economics
Mar 31, 2025
Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 HomeNAHB recently released its 2025 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses on the related U.S. housing affordability pyramid. The pyramid reveals that 70% of households (94 million) cannot afford a $400,000 home, while the estimated median price of a new home is around $460,000 in 2025.