MBA Statement by President and CEO Bob Broeksmit, CMB, regarding today's Agency Order by the Health and Human Services (HHS) and the U.S. Centers for Disease Control and Prevention (CDC) to temporarily halt residential evictions through December 31, 2020:

"MBA appreciates the intent of today's executive order to ensure that renter households facing financial hardship from the ongoing COVID-19 pandemic can stay in their homes. Protecting families experiencing or soon to be threatened with severe housing instability is a must during these challenging times.

"Although an eviction moratorium through the end of the year is important for renters, it is not a complete or long-term solution. If tenants are unable to pay their rent, then millions of our nation's housing providers - many of whom are individual landlords and small business owners - will be unable to meet their mortgage obligations, make payroll to their own employees, maintain a safe and healthy living environment for their tenants, and pay their state and local government property taxes. The result would be a cascading reaction that would only exacerbate the current economic crisis, leading to more job loss, financial pain, and long lasting economic effects.

"That is why we continue to call upon Congress to work with the administration and pass legislation - as called for by a growing bipartisan group of policymakers - as quickly as possible to provide direct financial support and emergency rental assistance with workable mechanisms to ensure it reaches tenants in need. Rental assistance is a major tool that should be used to keep families in their homes, while also protecting the safety and soundness of the entire multifamily finance market. The time to act is now."