Freddie Mac’s Multifamily Division announced it will require all future manufactured housing community (MHC) transactions to include a series of tenant protections, as defined by the Federal Housing Finance Agency’s (FHFA) Duty to Serve (DTS) regulation. These protections will include renewable lease terms, written notice of rent increases, grace periods for late rental payments, and rights governing the sale of a manufactured home at an MHC. While MHI had worked with consumer groups and proposed standards for consumer lease protections through the DTS process, the intent was for such protections to accompany secondary market support for the financing of homes within land-lease communities (chattel financing) as opposed to the commercial financing of the communities themselves, which is how the protections were ultimately adopted within DTS. Click here to learn more.