Comment Detail

Comment

We are gratified that FHFA and the Biden Administration have listened to tenants across the country who have been demanding action. And we thank FHFA for beginning to address the critical need for rent stabilization and other renter protections. Instituting rent stabilization and renter protections will fulfill several provisions of FHFA’s mission and the mission of the GSE’s which it regulates. Specifically, requiring a basic level of stability and tenant protections in all Enterprise-backed transactions helps fulfill safety and soundness requirements, FHFA and the Enterprises’ mission to serve low-income tenants and, by ensuring a more stable housing system, contributes to systemic liquidity. Beyond the specific statutory requirements found in the Safety and Soundness Act and in the Enterprises’ Duty to Serve, FHFA and the Enterprises have a requirement to ensure the Fair Housing Act is enforced and to Affirmatively Further Fair Housing. Current data on renters of protected classes makes it abundantly clear that, to truly affirmatively further fair housing, FHFA and the Enterprises must require tenant protections that reduce disparities in evictions, displacement, and access to affordable rental housing.

Please see attachment for full comment.