Commercial/Multifamily Policy-Related Updates
In This Section
During the pandemic, MBA worked closely with policymakers on relief measures to support the real estate industry during an historically difficult time. As a result of this advocacy, Congress enacted important assistance, including direct rental assistance, enhanced unemployment benefits, several rounds of direct checks to individuals, and regulatory capital and accounting TDR relief for financial institutions, including life insurance companies. The NAIC also took action to provide TDR relief for life insurance companies, to enable them to make prudent temporary loan modifications during the pandemic.
These measures limited the impact of the pandemic and mitigated associated business disruptions on the CREF industry and proved to be an important difference maker in preserving the long-term health of the commercial and multifamily real estate market.
With the widespread distribution of the COVID-19 vaccine, the worst of the pandemic is likely behind us. However, MBA remains engaged in the several issues related to the pandemic and the economic recovery that remain open, including distribution of rental assistance funds and eviction moratoriums.
MBA will continue to advocate for a smooth transition out of the pandemic and into a fully functioning economy and marketplace.