August 5, 2021

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Mortgage News

coalition calls for expiration of eviction moratorium

After a year in which the eviction moratorium was pushed back, the Mortgage Bankers Association (MBA) and a coalition of real estate organizations have had enough and are calling for an end to the Federal moratorium on evictions on June 30th.

In a joint letter, the group praised the steps that President Biden has taken to bring the pandemic under control and provide the relief necessary to stabilize the housing sector. At the same time, the coalition points out that it is time to end the eviction moratorium, which they described as a “nationwide uniform, federal evacuation policy”.

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Instead, the group suggested focusing on targeted housing support for tenants who continue to recover from the pandemic and housing providers in need. The coalition believes that politics is at odds with the country’s current recovery stage and will ultimately only trap tenants in insurmountable debt and hinder the recovery in the housing sector.

“The phasing out of the nationwide eviction will be a major catalyst in getting tenants back to a normal payment schedule, and lost revenue-loss homeowners who may struggle to pay their mortgages, finance property operations, bring stability, and their own meet financial commitments, ”the coalition wrote in the letter.

The organizations pledged to continue working with policy makers to provide housing assistance to tenants as the nationwide eviction moratorium was finalized in late June.

“With the pandemic better under control, we look forward to working with the administration to end unsustainable statewide restrictions on property operations, implement workable solutions for tenants with housing instability, and help the country recover,” the group said .

The coalition consists of 12 organizations: CCIM Institute, Council for Affordable and Rural Housing, Institute of Real Estate Management, Manufactured Housing Institute, Mortgage Bankers Association, National Affordable Housing Management Association, National Apartment Association, National Association of Home Builders, National Association of Housing Cooperatives, National REALTORS Association, National Rental Housing Association and the National Council for Apartment Buildings.