CREF Policy Update: FHFA Withdraws Landlord-tenant Restrictions, Radon Testing Directives
FHFA Withdraws Landlord-Tenant Restrictions, Radon Testing Directives
Last Monday, Federal Housing Finance Agency (FHFA) Director Bill Pulte rescinded the Directive on Landlord-Tenant restrictions via X, and on Wednesday rescinded a 2022 order related enhanced radon testing standards.
• The landlord-tenant order rescinds last year’s announced requirement that Fannie Mae and Freddie Mac (the GSEs) implement conditions related to rent payment flexibility and lease notifications as a requirement for multifamily mortgages.
• The radon testing directive removes the enhanced requirements that the GSEs had to adopt and implement on their radon testing requirements. MBA previously recommended several steps FHFA should take before implementing the requirements, citing the need for a full analysis of testing protocols to determine the most cost effective and least disruptive policies to protect resident health.
Why it matters: These two rescissions provide more flexibility for the GSEs to ensure market liquidity and smooth business operations without additional mandates from FHFA.
What’s next: MBA will continue to work with FHFA to remove burdensome and unnecessary requirements in the GSEs’ multifamily lending programs.
For more information, please contact Megan Booth at (202) 557-2740
REGISTER: Town Hall with MBA Leadership: The New Administration’s First 100 Days
Thursday, April 3, at 3:00 p.m. ET, MBA President and CEO Bob Broeksmit, CMB, and MBA leaders engaged on policy issues, will host another town hall webinar on the latest developments in the single-family and commercial/multifamily arenas under the Trump administration and MBA’s ongoing work on them.
• Register here for MBA’s new series covering the first 100 days of the Trump administration. Attendees can send questions beforehand to First100Days@mba.org.
Why it matters: MBA continues to monitor ongoing developments at the federal agencies and is engaging with the Trump administration to promote agency activities and priorities that advance investment and growth in real estate markets. Hear the latest from the team on recent activities at FHFA, HUD, and other federal agencies.
What’s next: MBA remains actively engaged with the senior appointees and key staff in place at all agencies that impact the industry and continues to:
• Advocate for the continuation of programs and policies that benefit the real estate finance markets, borrowers, and the industry;
• Recommend sensible changes that lower the cost of lending, promote competition, and ensure continued support for commercial and multifamily investment; and
• Warn against potential actions that would lead to disruptions in the single-family and commercial/multifamily markets.
For more information, please contact Bill Killmer at (202) 557-2736 or Jamie Woodwell at (202) 557-2936.
HFSC Holds Hearings on CFPB Oversight and Capital Access
Last week, the House Financial Services Committee (HFSC) held two key hearings: a full Committee hearing on Tuesday titled, “Beyond Silicon Valley: Expanding Access to Capital Across America,” and a Wednesday Subcommittee hearing titled, “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections.”
Go deeper: Lawmakers at Tuesday’s hearing largely agreed on the need to modernize the definition of an accredited investor, citing structural changes in capital markets and a desire to expand access to wealth-building tools. Several Democrats also called for increased support for Community Development Financial Institutions (CDFIs) to improve investment in underserved communities.
Wednesday’s CFPB-focused hearing exposed sharp partisan divides. Republicans raised concerns about what they described as unchecked regulatory overreach under the Biden administration, pointing to the Bureau’s independent structure and its enforcement of rules such as Section 1071 on small business lending data collection.
• Multiple GOP members called for structural reforms and a rollback of certain regulatory mandates. Democrats, meanwhile, strongly defended the CFPB’s mission, emphasizing its role in consumer protection and oversight of nonbank financial institutions. Several warned that the Trump administration’s early actions—including enforcement slowdowns and staffing cuts—could undermine the Bureau’s effectiveness moving forward.
• Find the full HFSC Hearing: Expanding Access to Capital summary here and the full Subcommittee Hearing: CFPB Oversight summary here.
Why it matters: Both hearings previewed potential legislative activity—particularly efforts to reshape the CFPB’s structure, authority, and oversight mechanisms. Several bills noticed during the hearings are expected to be taken up in a full Committee markup as early as next week. MBA supports the concept of changing the CFPB to a bipartisan board or commission structure and subjecting the agency to the appropriations process.
What’s next: MBA will remain fully engaged with lawmakers on both sides of the aisle. As discussions around CFPB reform and capital access continue to evolve, MBA will provide updates and weigh in with the industry’s perspective.
For more information, please contact Madisyn Rhone at (202) 557- 2741 or Rachel Kelley at (202) 557- 2816.
Attend MBA’s National Advocacy Conference on April 8-9; Over 500 Advocates Registered
Join us in Washington, D.C. to meet with key policymakers, network with colleagues across the industry, and hear from policy experts on the topline issues impacting the industry. Key advocacy issues to be covered in a dedicated commercial/multifamily track include the potential for GSE release, real estate-related tax policy priorities, legislation intended to increase housing supply, insurance-related concerns, CFPB-related regulatory relief (Section 1071 and HMDA reporting requirements) and more.
• Scheduled speakers for the conference include HUD Secretary Scott Turner, GOP Conference Chair Congresswoman Lisa McClain (R-MI), key Senate Banking Committee members Thom Tillis (R-NC), Pete Ricketts (R-NE), Elizabeth Warren (D-MA) and Mark Warner (D-VA), key House Financial Services Committee members Mike Flood (R-NE), Ritchie Torres (D-NY), and Emmanuel Cleaver (D-MO), and National Journal’s managing editor of Hotline Kirk Bado.
• Attendees will also get the opportunity to hear from Hugh Frater, Former CEO of Fannie Mae in a fireside chat, and insurance expert Adam Shores, SVP of State Government Relations, at the American Property Casualty Insurance Association (APCIA).
An exclusive reception will be held on Tuesday, April 8, at the Renwick Gallery of the Smithsonian American Art Museum. Lend your voice to our efforts and bring your expertise and experiences to the table.
• Check out MBA’s group passes pricing.
Why it matters: Your participation at NAC ensures that members of the 119th Congress and the administration understand how proposed legislation affects your employees, your end users, and the communities you (and they) serve.
What’s next: MBA will use its NAC25 efforts as a key means to advocate on behalf of the policy priorities (both legislative and regulatory) that impact the real estate finance industry.
For more information, please contact Jamey Lynch, AMP, at (202) 557-2818.
Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely commercial/multifamily and single-family programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – all complimentary to MBA members:
• Understanding Parametric Insurance: A Lender’s Guide to Maximizing Protection and Efficiency – April 10
• Uncovering Fraud in Commercial/Multifamily Lender-Placed Insurance – April 15
• Builder’s Risk Insurance: Analysis & Perspectives – April 17
• Basics of Commercial Loan Closing and Loan Documentation – May 1
• CMF Risk Management Series: Pre-Closing Risk Reduction Tactics – May 6
MBA members can register for any of the above events and view recent webinar recordings by clicking here.
For more information, please contact David Upbin at (202) 557-2931.
