A new study from Freddie Mac shows that mortgage forbearance has played an important role in helping mortgage borrowers remain in their homes during COVID-19.
The number of homes backed by Fannie Mae and Freddie Mac that are 60 or more days past due jumped from 0.92% to 4.08% at the end of the second quarter, due to the COVID-19 pandemic and the forbearance programs being offered to the affected borrowers, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
The Federal Housing Finance Agency announced today that it would extend—through August 31 at a minimum—a moratorium on foreclosures and evictions for single-family mortgages backed by Fannie Mae or Freddie Mac.
Testifying before the Senate Banking Committee today, FHFA Director Mark Calabria said that he has been “encouraged” by incoming data on the state of the mortgage markets, including forbearance rates, as the coronavirus pandemic persists in the U.S.
Fannie Mae and Freddie Mac have sold 126,757 nonperforming loans as of Dec. 31, 2019, with a total unpaid balance of $23.8 billion, according to the Non-Performing Loan Sales report released today by the Federal Housing Finance Agency.
To help ensure liquidity in the secondary mortgage market, the Federal Housing Finance Agency today directed Fannie Mae and Freddie Mac to engage in additional dollar roll transactions, which would provide investors in mortgage-backed securities with short-term financing of their positions.
The Department of Housing and Urban Development is seeking feedback on a proposed set of changes aimed at improving its foreclosure sale policies.
Fannie Mae and Freddie Mac have sold 117,466 nonperforming loans as of June 30, 2019, with a total unpaid balance of $22.2 billion, according to the Non-Performing Loan Sales report released today by the Federal Housing Finance Agency.