Bill Pulte, the new Federal Housing Finance Agency director, is quickly enacting policy changes at Fannie Mae and Freddie Mac. Now, he is posting reversals of some programs on X.
One of the most notable changes ended the Biden administration's renter rights program for multifamily properties backed by Fannie Mae and Freddie Mac. This policy, part of the "Blueprint for a Renters Bill of Rights," aimed to enhance fairness in the rental market by requiring landlords to provide tenants with a 30-day notice of rent increases, lease term expirations, and a five-day grace period for late rent payments.
Pulte argued that this policy would increase compliance burdens for lenders and property owners, pointing out that many states and local governments already have laws and policies regarding lease notices and late fees.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
