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GSEs announce new tenant protection plans for multifamily properties

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…

U.S. Treasury announces final anti-money laundering rules for real estate agents

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on Wednesday the publication of two rules that extend anti-money laundering regulations to real estate agents and investment advisers, which is part of a broader Biden administration plan designed to curb corruption. “The final residential real estate rule will require certain industry professionals…