MBA, Real Estate Industry Commend Administration for Recovery Efforts; Call for End to Nationwide Eviction Moratorium
The Mortgage Bankers Association and a broad real estate coalition on Friday commended measures President Biden has taken to stabilize the housing sector and urged the administration to sunset the federal moratorium on evictions on June 30.
In a joint letter to Biden, the coalition said the broad financial assistance provided through relief bills, including Emergency Rental Assistance Program funds, expanded unemployment insurance and direct stimulus checks, has helped avoid a financial catastrophe and provided a path to recovery for individuals, households and businesses alike.
“As the pandemic comes under better control, we look forward to working with the Administration to end unsustainable nationwide federal restrictions on property operations, implement workable solutions for renters facing housing instability and help the country recover,” the coalition said.
The coalition said continuation of a nationwide one-size-fits-all, federal eviction policy is at odds with the current economic environment and will ultimately only serve to place insurmountable levels of debt on renter households and impede the recovery in the housing sector.
Moreover, the U.S. hit the lowest levels of new recorded COVID-19 cases and average daily deaths since March 2020 and vaccines are widely available with 63 percent of U.S. adults having received at least one vaccination.
“As the Administration continues its support for housing, we urge you to sunset the nationwide federal moratorium on evictions on June 30th and focus on targeted housing support for those renters who continue to recover from the pandemic,” the letter said.
The coalition said it is committed to working in partnership with policymakers at all levels to deliver housing assistance to renters while concluding the nationwide eviction moratorium at the end of June.
The group consists of 12 organizations who represent for profit and non-profit housing owners, operators, developers, lenders and property managers and cooperatives involved in rental housing, both affordable and conventional. With MBA, coalition members include:
Council for Affordable and Rural Housing
Institute of Real Estate Management
Manufactured Housing Institute
National Affordable Housing Management Association
National Apartment Association
National Association of Home Builders
National Association of Housing Cooperatives
National Association of Realtors
National Leased Housing Association
National Multifamily Housing Council