A broad group of 31 housing groups urged congressional leaders and the administration to return to negotiations on a stimulus package to protect renters, property owners and the stability of the nation’s rental housing stock. “We implore you to immediately return to the negotiating table and reach agreement on rental assistance and broader relief legislation that keeps people in their homes,” the letter said, sent on Friday, Aug. 21 to the joint congressional leadership, the Secretaries of Treasury and Housing and Urban Development, and the White House Chief of Staff and National Economic Council Director.

Although the president signed an executive order aimed at helping struggling renters, it does not actually extend the CARES Act eviction moratorium or provide urgently needed rental assistance. Politico reported this week that HUD plans to extend the foreclosure and eviction moratoriums for households living in homes backed by the agency. The announcement, however, falls short of what’s needed to stave off a larger wave of COVID-19 related evictions. In an article this week in the Washington Post, NHC president and CEO noted that while the executive order does not solve the eviction crisis, it “is a valuable step in the right direction for the president to publicly recognize the importance of addressing this issue immediately.”

“The need for action on behalf of America’s renters is urgent. According to the latest information from the U.S. Census Bureau, nearly 21% of renter households were behind on their rent payment,” the Aug. 21 letter said. “Renters impacted by the COVID-19 pandemic already owe an estimated $25 billion in back rent and could owe up to $70 billion by the end of the year. Without federal rental assistance, these debts will be unsustainable and financially ruinous for renter households across the nation.” In a press release announcing the letter, Dworkin said, “There should be no higher priority than avoiding millions of evictions throughout the country. Without emergency rental assistance funding, we will face a catastrophic crisis

The letter was signed by the California Housing Consortium, CCIM Institute, Consumer Federation of America, Council of Large Public Housing Authorities, Enterprise Community Partners, Habitat for Humanity International, Housing Assistance Council, Institute of Real Estate Management, Local Initiatives Support Corporation, Low Income Investment Fund, Mortgage Bankers Association, National Affordable Housing Management Association, National Alliance to End Homelessness, National Apartment Association, National Association of Affordable Housing Lenders, National Association of Home Builders, National Association of Housing Cooperatives, National Association of Real Estate Brokers, National Association of REALTORS®, National Community Stabilization Trust, National Council of State Housing Agencies, National Housing Conference, National Housing Resource Center, National Leased Housing Association, National Low Income Housing Coalition, National Multifamily Housing Council, National NeighborWorks Association, New York Housing Conference, Stewards of Affordable Housing for the Future, ULI Terwilliger Center for Housing, and Up for Growth Action.

Over the past week, housing stakeholders continued to voice their frustration with Fannie Mae and Freddie Mac’s planned 50-basis point fee that would be imposed on new refinances beginning on Sep. 1, 2020. Both Republican and Democratic members of Congress sent letters to Federal Housing Finance Agency (FHFA) Director Mark Calabria asking for justification and withdrawal of the new fee. NHC joined more than two dozen housing, financial services and consumer advocacy organizations in a letter calling on FHFA “to withdraw this ill-timed, misguided directive.”

Fannie Mae CEO Hugh Frater and Freddie Mac CEO David Brickman responded to the widespread criticism in a letter on Wednesday that suggests the fee will have a minimal effect on refinance borrowers; “Some have asserted that this price adjustment could impact borrowers by as much as $1,400—but this life of the loan estimate is a misrepresentation of how this cost would be applied.” Frater and Brickman go on to say that some lenders may choose to absorb the new fee. Frater and Brickman went on to say that some lenders may choose to absorb the new fee. 

On Aug. 20, FHFA Director Calabria responded to a letter by a broad group of housing and civil rights organizations, which NHC co-signed, to express deep concern over policy changes regarding the treatment of mortgages that close but enter forbearance before being sold to Fannie Mae or Freddie Mac or insured by FHA. The group cautioned that the changes would further reduce access to credit for borrowers of color and those living in communities hardest hit by the Coronavirus.

In response, he stated, “Allowing these previously ineligible loans to be delivered to the Enterprises gives an unprecedented new tool to originators, enabling them to continue lending and thus supporting liquidity in our nation’s mortgage markets at this critical time. This is consistent with the Enterprises’ countercyclical mission.”

The response letter indicates that FHFA plans to share data CFPB to ensure borrowers qualify for mortgages they can afford. “The data sharing will allow FHFA to fulfill its obligation under the so-called ‘QM Patch’ to ensure that loans sold to the Enterprises are complying with the intent of Dodd-Frank’s ability to repay provisions.”

HireAHelper – an online marketplace for moving services – published a report on migration trends during COVID-19. The report reveals that densely populated states with more extensive virus spread, such as New York and California, saw the largest outflow of residents. Meanwhile, states like Idaho, New Mexico and Delaware saw substantial increases in new residents. Looking at the city level, the report says, “it becomes quite apparent that people were fleeing big urban centers.”

The National Association of REALTORS® (NAR) recently convened its annual Leadership Summit in which Richard Rothstein, distinguished fellow of the Economic Policy Institute and author of “The Color of Law,” remarked, “REALTORS®, banks, and developers all participated knowingly and willingly in that unconstitutional federal housing policy.” In a post, NAR said it’s up to REALTORS® to lead the change in their communities and help undo years of systemic racial segregation.

A new report from Brookings examines the “middle class time squeeze,” and challenges faced by middle class households that are dependent on income from two earners. These households are left with “limited time for other activities such as family care, sleep and leisure,” the report finds. Brookings also notes, “the gap in longevity between those with higher and lower incomes has widened in the U.S.”

The National Low Income Housing Coalition (NLIHC) circulated a Call to Action this week, asking housing advocates to join together in a Day of Action on Aug. 24 to call on Congress to return to Capitol Hill to pass COVID-19 relief legislation. In addition to providing a sample script for calls to Congress and sample social media posts, NLIHC has developed an advocacy toolkit to assist stakeholders in scheduling meetings with members of Congress.