FHFA Extends Foreclosure Moratorium

first_imgHome / Daily Dose / FHFA Extends Foreclosure Moratorium Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 4Save Sign up for DS News Daily December 2, 2020 16,906 Views FHFA Extends Foreclosure Moratorium FHFA Wednesday announced the fourth extension of its foreclosure and eviction moratorium through “at least” January 31.This extension will continue the moratorium on single-family foreclosures and real estate owned (REO) evictions until at least January 31, 2021, according to a news release. It applies to GSE-backed, single-family mortgages only. (However, when the FHFA announced the previous extension, which was set to expire December 31, FHA soon followed suit.)FHFA says the REO eviction moratorium applies to properties that have been acquired by a GSE through foreclosure or deed-in-lieu of foreclosure transactions.“Extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic,” said FHFA Director Mark Calabria. “This extension gives peace of mind to the more than 28 million homeowners with a [GSE]-backed mortgage.”According to a press release, FHFA at this juncture projects additional expenses of $1.1 to $1.7 billion for the GSEs due to the existing COVID-19 foreclosure moratorium and this extension. This is in addition to the $6 billion in costs already incurred.FHFA says it will continue to monitor the effect of coronavirus on the mortgage industry and update its policies as needed.In a previous statement, Fannie Mae said it “has taken a number of actions to help homeowners and renters facing financial hardship due to COVID-19. In addition to suspending foreclosures and evictions affecting homeowners, Fannie Mae extended eviction protections to multifamily renters when the property owner received a forbearance, reminded homeowners they are never required to repay missed payments after a forbearance period all at once, shared tips to help homeowners avoid foreclosure fraud or scams, and announced a new COVID-19 payment deferral option to help homeowners who are ready to resume their monthly mortgage payments following a COVID-19 forbearance.”These and other resources we make available are part of our ongoing Here to Help education effort, aimed at helping homeowners and renters impacted by COVID-19 understand the options available to them.”To understand the protections and assistance offered by the government to those 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.Homeowners can find out if they have an enterprise-owned mortgage by visiting  KnowYourOptions.com/loanlookup. 2020-12-02 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Previous: New Forbearance Requests, Re-entries Lead to Overall Increase Next: Real Estate Fund Designates $1 Billion to Communities of Color in Daily Dose, Featured, Government, News  Print This Post About Author: Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img

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