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…
HUD: FHA Extends Options for Single Family Borrowers Financially Impacted by COVID-19
Extensions ensure borrowers can continue to seek assistance and avoid eviction and foreclosure while maintaining temporary policy flexibilities for lenders and servicers Today, the Federal Housing Administration (FHA) announced it is extending the foreclosure and eviction moratorium for single family FHA-insured mortgages for an additional two months, through February 28, 2021. The FHA is also extending through…
FHFA: Third Quarter 2020 Foreclosure Prevention and Refinance Report Released
The Federal Housing Finance Agency (FHFA) today released its third quarter 2020 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 539,451 foreclosure prevention actions in the third quarter of 2020, bringing to 5.2 million the number of troubled homeowners who have been helped during conservatorships. Of…
OCC: Report Shows Decline in Mortgage Performance in Third Quarter 2020
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the third quarter of 2020. The OCC Mortgage Metrics Report, Third Quarter 2020 showed that 92.5 percent of mortgages included in the report were current and performing at the end of the quarter, compared…
FHFA: Foreclosure and REO Eviction Moratoriums Extended
Foreclosure moratorium applies to Enterprise-backed mortgages; eviction moratorium applies to Enterprise-owned properties Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, 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)…
HUD: Disaster Assistance Announced for Victims of Hurricane Laura
Foreclosure protection offered to displaced families The U.S. Department of Housing and Urban Development (HUD) today announced federal disaster assistance for the State of Louisiana to provide support to homeowners and low-income renters displaced from their homes in areas affected by Hurricane Laura. On August 28th, President Trump issued a major disaster declaration for the following parishes…
HUD: FHA Extends Foreclosure and Eviction Moratorium for Homeowners through Year End
Third extension will allow FHA-insured homeowners economically impacted by COVID-19 to focus on financial recovery Today, the Federal Housing Administration (FHA) announced the third extension of its foreclosure and eviction moratorium through December 31, 2020, for homeowners with FHA-insured single family mortgages covered under the Coronavirus Relief and Economic Security (CARES) Act. This extension provides an additional…
FHFA: Foreclosure and REO Eviction Moratoriums Extended
Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, 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 at least December 31, 2020. The foreclosure moratorium applies to…
FHFA: Agency Extends Buying Loans in Forbearance & COVID-19 Loan Processing Flexibilities
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend buying qualified loans in forbearance and several loan origination flexibilities until September 30, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on August 31, 2020….
FHFA: Multifamily Property Owners in Forebearance Now Required to Inform Tenants of Eviction Suspension and Protections
To increase awareness of available tenant protections, the Federal Housing Finance Agency (FHFA) announced today that multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) who enter into a new or modified forbearance agreement must inform tenants in writing about tenant protections during the multifamily property owner’s forbearance and repayment…