The government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac on Wednesday announced new minimum standards to be included in tenant leases on GSE-backed multifamily properties, following up on a policy announced last month by the Federal Housing Finance Agency (FHFA).

The new lease standards will require a five-day grace period for rent payments, a 30-day notice for rent increases and a 30-day notice of a lease expiration, the GSEs explained. The policy takes effect with new loans details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com