GSEs, HUD to Suspend Foreclosures Amid Coronavirus Pandemic

To help provide relief to homeowners who may be facing financial hardships as a result of the coronavirus pandemic, the Federal Housing Finance Agency today announced that it has directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days for enterprise-backed single-family mortgages.

This announcement follows action by FHFA earlier this month to provide payment forbearance for affected borrowers, allowing them to suspend mortgage payments on mortgages backed by Fannie and Freddie for up to 12 months.

The Department of Housing and Urban Development today also announced that it would suspend foreclosures and evictions for all Federal Housing Administration-guaranteed loans until the end of April.