In a significant move today, the Federal Housing Finance Agency announced that it will purchase qualified single-family mortgages in forbearance in order to support mortgage markets during the coronavirus pandemic.
To support the effort to provide relief to mortgage borrowers struggling due to the coronavirus, the Federal Housing Finance Agency and the Consumer Financial Protection Bureau will begin sharing servicing information, the agencies announced today.
Due to the coronavirus pandemic, Fannie Mae and Freddie Mac have extended the implementation timeline for the redesigned Uniform Residential Loan Application and automated underwriting systems.
Fannie Mae and Freddie Mac have issued updates to their servicing guidelines for servicers working with borrowers affected by the coronavirus pandemic.
Since the Federal Housing Finance Agency launched a credit risk transfer program for Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $115 billion in credit risk to private investors, amounting to about 3.3% of unpaid principal balance, the FHFA said today.
The Federal Housing Finance Agency today took action to grant additional flexibility to Fannie Mae and Freddie Mac to help expedite loan processing during the pandemic.
With many borrowers now taking advantage of nationwide forbearance programs as they struggle to make their monthly mortgage payments, Ginnie Mae announced today that it will take action to ensure liquidity in the mortgage-backed securities market during the 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.
The Federal Housing Finance Agency today issued revised guidance for Fannie Mae and Freddie Mac on their “duty to serve” three specified markets, including manufactured housing, affordable housing and rural housing.
The American Bankers Association joined a broad coalition of housing and finance trade organizations in a letter to congressional leaders Friday urging them not to use the Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets.