FHFA: COVID-Related Loan Flexibilities Further Extended Until March 31, 2021
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until March 31, 2021. The changes are designed to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on February 28, 2021. Extended flexibilities include: Alternative appraisals…
FHFA: Foreclosure and REO Eviction Moratoriums and COVID Forebearance Period Extended
Borrowers can now be in COVID forbearance for up to 15 months Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until March 31, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The…
FHFA: Foreclosure and REO Eviction Moratoriums Extended Through February 28, 2021
Foreclosure moratorium applies to Enterprise-backed mortgages; eviction moratorium applies to Enterprise-owned properties Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until February 28, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The…
FHFA: RFI Issued on Climate and Natural Disaster Risk Management at Regulated Entities
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on the current and future natural disaster risk to the housing finance system and to Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (the FHLBanks)—collectively the regulated entities. The information that FHFA is requesting will enhance the…
FHFA: COVID-Related Loan Flexibilites Extended Until February 28, 2021
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until February 28, 2021. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on January 31, 2021. Extended flexibilities include: Alternative appraisals on…
FHFA and Treasury: Fannie Mae and Freddie Mac Allowed to Continue to Retain Earnings
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase Agreements (PSPAs). The amendments allow Fannie Mae and Freddie Mac (the Enterprises) to continue to retain earnings until they satisfy the requirements of the 2020 Enterprise capital rule. “Today’s agreement that allows Fannie Mae…
FHFA: Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Markets Plans for 2021 Announced
The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program. The Plans became effective January 1, 2021. FHFA issued a final rule in 2016 that implemented the DTS provisions as mandated by the Housing and Economic Recovery Act of…
FHFA: Request for Input Issued on Appraisal-Related Policies, Practices and Processes
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on appraisal-related policies, practices, and processes. The input received in response to the RFI will be used by FHFA to determine the necessary modifications needed to ensure Fannie Mae and Freddie Mac (the Enterprises) operate in a safe and sound manner. “Modernizing…
FHFA: COVID-19 Multifamily Forbearance Extended through March 31, 2021
Multifamily property owners that enter in to a new or modified forbearance must offer tenant protections Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through March 31, 2021. The Enterprise programs were set to expire December…
FHFA: Notice of Proposed Rulemaking Issued on Enterprise Resolution Plans
Proposed rule would require Enterprises to submit “living will” resolution plans The Federal Housing Finance Agency (FHFA) today announced that it is seeking comment on a notice of proposed rulemaking that would require Fannie Mae and Freddie Mac (the Enterprises) to develop credible resolution plans, also known as living wills. These resolution plans would facilitate…