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White House, HUD and CFPB detail new actions and priorities to protect renters

Housing Wire

Department of Housing and Urban Development (HUD), the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have all renewed their efforts to protect tenants renting in multifamily housing units as costs continue to climb, according to an announcement from the White House. HUD], the U.S.

Tenants 369
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Yardi’s rent-setting software illegally drove rent prices up for millions of renters: lawsuit

Housing Wire

RENTmaximizer effectively outsources the management of rental pricing from a landlord to Yardi itself, which then implements higher prices collectively across a group of landlords,” the lawsuit alleged. By 2013, the software was used to price 8 million residential units, attorneys for the plaintiffs argued.

Landlords 412
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Knox Financial announces $10 million in Series A funding

Housing Wire

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. “Its full-service, tech-enabled platform has clearly resonated with first-time investment property owners and career landlords alike,” Hower said. Knox has shown people across the U.S.

Landlords 384
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Till raises $8 million in seed funding for flexible rent platform

Housing Wire

Route 66 Ventures , MetaProp and NextGen Venture Partners participated in the financing, the first external round of funding for the Washington, D.C.-based The company partners with institutional landlords, who then offer it to their tenants. based company since its 2017 inception. No doubt this space is an increasingly crowded one.

Landlords 450
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Biden administration rolls out renter protections as rent prices soar

Housing Wire

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

Tenants 410
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HUD affordability plan doesn’t include lowering FHA premiums

Housing Wire

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. Another area of focus for the administration is improving its financing for manufactured housing.

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Fannie Mae launches rent payment reporting pilot program

Housing Wire

“The absence of sufficient credit history reduces a renter’s ability to access housing in higher-opportunity neighborhoods, obtain a mortgage, and attain lower-cost credit, such as auto loans and education financing.”. Renters who miss a payment are automatically unenrolled to preserve their credit score. They can also opt out of the program.

Landlords 397