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August 2023 » thefivestar.com 73 J O U R N A L August 2023 strong tenant protections. The program aims to engage tenants in efforts to preserve eligible properties as affordable housing, and to provide tenants with information on their rights and responsi- bilities. Funding can be used for training and technical assistance as well as to help establish tenant organizations and support their ongoing operations. Applications must be submitted by January 1, 2024. » Providing more time for tenants to avoid eviction: HUD has committed to issue a notice of proposed rulemaking that would require that tenants of public housing and properties with project-based rental assistance receive a written notice at least 30 days prior to lease termination for non- payment of rent. This proposed rule would curtail preventable and unnecessary evic- tions by providing tenants with time and information to help address nonpayment violations. Tenants living in public housing and in properties with project-based rental assistance are already entitled to receive a 30-day notice in cases of non-payment of rent. However, if finalized, the proposed rule would permanently memorialize this requirement in HUD's regulations, allowing the agency additional latitude to effectively communicate and implement these protections. "Across the housing market, landlords increasingly rely on tenant screening reports as part of their selection criteria, but research shows that these reports too often contain imprecise information, including inaccu- racies in criminal and eviction records and credit history. Today, FHFA joins several other federal agencies, as part of its work with the Interagency Policy Council on Tenant Protections, to advance best practices in adverse action notices," Federal Housing Finance Agency (FHFA) Director Sandra L. Thompson said. "Under the Fair Credit Reporting Act (FCRA), all landlords or prop- erty managers are required to inform rental applicants of negative information from a consumer report that led to the rejection of a rental application or another action unfa- vorable to the applicant. This requirement is known as the adverse action notice." GINNIE MAE UNVEILS NEW LOAN-LEVEL LMI DISCLOSURES FOR USDA-RHS LOANS G innie Mae has announced the expansion of its low- to moderate-in- come (LMI) disclosure initiative to include loan-level pool data for U.S. Department of Agriculture, Rural Housing Service (USDA-RHS) loans. This pool-level borrower income data will be used in Ginnie Mae's Mortgage-Backed Security Level "LMI Income" disclosure. Ginnie Mae has been working to enhance its LMI disclosures, beginning with LMI geographic information two years ago, and the addition of LMI income earlier in 2023. These disclosures are key to Ginnie Mae's social and environmental mission and align with increased environmental, social, and governance (ESG) considerations from its mortgage-backed securities (MBS) investors. As of April 2023, Ginnie Mae reported nearly 800,000 USDA-RHS loans in its port- folio representing more than 7% of Ginnie Mae's single-family MBS. "We are excited to expand our work with USDA-RHS and further support the critical role which they play in rural areas across the country," said Sam Valverde, Ginnie Mae's Principal EVP. "These additional disclosures highlight a uniquely impactful portion of our business and enable investors to measure and potentially expand their impact across these communities." USDA-RHS is one of Ginnie Mae's key government loan partners and offers a variety of programs to build and improve housing and essential community facilities in rural areas. The commitment and resources USDA-RHS bring to rural communities helps drive economic security and prosperity, with our MBS program creating the liquidity to finance their lending. USDA-RHS loans are integral to the economy and quality of life in rural communities, often the most affordable "By proactively engaging homeowners who may be struggling to pay their mortgage and empowering them with tools that help them understand their options, servicers can expect positive outcomes that may include higher portfolio retention, increased customer satisfaction and loyalty, greater servicing efficiency, and fewer third-party collections." —Joe Nackashi, CEO of Black Knight