In Windows Server 2016 TP 5 Microsoft brings the Node Fairness feature, something that was requested and voted on the Windows Server Voice as VM Placement without SCVMM.
Virtual Machine placement without System Center Virtual Machine Manager was not possible until the release of Windows Server 2016 TP 5. It was not possible to have a dynamic placement of the VM based on the nodes load without having System Center Virtual Machine Manager.
So what does the Node Fairness feature does?
The Node Fairness feature will identify the nodes that are over committed based on an evaluation of the memory pressure and CPU utilization after which will automatically live migrate the VMs from that nodes without any downtime.
The aggressiveness of balancing can be controlled only using the powerhsell command (Get-Cluster).AutoBalancerLevel = value (1- low, 2-medium, 3-high).
If you are using SCVMM in your environment and have the dynamic optimization feature enabled this will automatically disable the Node Fairness feature, since both of them are doing the same thing.
You can read more about Node Fairness here.