FHFA Extends Foreclosure and Eviction Moratorium

first_img“FHFA will continue to monitor the coronavirus situation and update policies as needed,” the agency said in a release. “To understand the protections and assistance the government is offering people having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at cfpb.gov/housing​.​” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save in Daily Dose, Featured, Government, Market Studies, News Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Foreclosure moratorium Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: DS5: Optimism in Mortgage Servicing Next: Calm Before the Storm: Q1 Delinquency Less than 4% About Author: Seth Welborn FHFA Extends Foreclosure and Eviction Moratorium Foreclosure moratorium 2020-06-17 Seth Welborn Subscribe The Best Markets For Residential Property Investors 2 days ago  Print This Post Today, to help borrowers and renters who are 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 their single-family moratorium on foreclosures and evictions until at least August 31, 2020. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The current moratorium was set to expire on June 30.”To protect borrowers and renters during the pandemic we are extending the Enterprises’ foreclosure and eviction moratorium. During this national health emergency no one should worry about losing their home,” said Director Mark Calabria.The Agency announced earlier this month that it is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac (the Enterprises) designed to help borrowers during the COVID-19 national emergency, including the authority to purchase mortgages in forbearance, until at least July 31. Other flexibilities that have been extended include:Alternative appraisals on purchase and rate term refinance loansAlternative methods for verifying employment before loan closingExpanding the use of power of attorney and remote online notarizations to assist with loan closingsThe FHFA previously announced that Fannie Mae and Freddie Mac would be able to buy loans in forbearance, with note dates on or before June 30, as long as they are delivered by August 31 and have missed just one mortgage payment. Additionally, the agency will be re-proposing the updated minimum financial eligibility requirements for the Enterprises.“FHFA has determined that it is prudent to work with the Enterprises to reassess and re-propose these requirements, including incorporating lessons learned from the evolving COVID-19 national emergency,” the Agency said in a release. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Extends Foreclosure and Eviction Moratorium June 17, 2020 3,811 Views Sign up for DS News Daily Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img

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