Nixon Peabody Gives COVID-19 guidance for owners and managers of multifamily residential properties
Nixon Peabody provides an update for owners, managers and other providers of multifamily housing facing challenges in responding to the COVID-19 virus, including just-released guidance from the CDC. Click here.
FHFA Moves to Provide Eviction Suspension Relief for Renters in Multifamily Properties
To keep renters in multifamily properties in their home and to support multifamily property owners during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) is announcing that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus. Read the press release.
FHFA Directs Enterprises to Grant Flexibilities for Appraisal and Employment Verifications
To facilitate liquidity in the mortgage market during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac (the Enterprises) to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements through May 17, 2020. Read the announcement here.
Allison E. Marino