article thumbnail

Freddie Mac spurs landlords to report on-time rent payments

Housing Wire

Freddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a mortgage. Esusu, a credit-building fintech, will deliver the on-time rental payment reports from landlords’ property management software to the credit bureaus.

Landlords 433
article thumbnail

Here’s how to fix the housing market inventory crisis

Housing Wire

housing market is in the midst of an inventory crisis. At the same time, home sales have soared close to record highs , suggesting the housing market suffers exclusively from a supply (and not demand) problem. housing market desperately needs. The number of homes for sale in the U.S.

Inventory 544
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Congressional report finds Invitation Homes downplayed evictions to Fannie Mae

Housing Wire

That’s what a congressional subcommittee said happened between Fannie Mae and Invitation Homes , the single-family rental landlord that in 2017 got a $1 billion interest-only 10-year loan from the government-sponsored enterprise. Imagine getting a $1 billion, interest-only loan and later lying to your creditor.

Landlords 351
article thumbnail

Trade groups oppose rent control on GSE-backed multifamily properties 

Housing Wire

It followed a Biden administration initiative launched in January urging housing providers and local governments to combat soaring rents. We think the market has changed in a way that there are circumstances where limitations on rent increases may be good public policy.”

Tenants 323
article thumbnail

Federal judge overturns CDC eviction ban

Housing Wire

Even if it stands, it may not grant much relief to landlords already subject to state and local eviction bans. Groups representing rental landlords — who hope to rid themselves of non-paying tenants — cheered the ruling. But the ruling may not allow landlords to immediately evict their delinquent tenants.

Landlords 401
article thumbnail

Without another stimulus package, rent delinquencies could rise

Housing Wire

Landlords are going to start feeling the burn if a wave of missed payments come through. “The rental market has been more affected by the coronavirus pandemic than the for-sale side appears to have been,” said Joshua Clark, a Zillow economist. “The a year ago, according to the CoreLogic Single-Family Rent Index.

Landlords 415
article thumbnail

Freddie Mac posts $12.1B income in 2021

Housing Wire

The government-sponsored enterprise saw a 20% growth in its single-family mortgage portfolio from 2020 to 2021, driven by soaring home prices and an increase in the average size of loans it acquired. Freddie Mac also reported that its serious delinquency rate, which has been consistently lower than the rest of the market, is now 1.12%.

Landlords 387