FHFA Extends Fannie Mae, Freddie Mac Pandemic-Related Policies Through End of September

WASHINGTON, D.C. — The Federal Housing Finance Agency (FHFA) has extended Fannie Mae’s and Freddie Mac’s coronavirus-related policies for their single-family properties through Sept. 30, 2020. The policies include the temporary policy allowing the purchase of qualified loans in forbearance, allowing alternative methods for documenting income and verifying employment and expanding the use of power of attorney and remote online notarizations. The new policies for Fannie Mae and Freddie Mac, which are government sponsored enterprises (GSEs) overseen by the FHFA, were previously set to expire Aug. 31.

Washington, D.C.-based Mortgage Bankers Association (MBA) issued a statement supporting the FHFA’s decision.

“MBA and its members appreciate FHFA and the GSEs extending these important features,” said Bob Broeksmit, CEO and president of MBA. “Both the origination flexibilities and the program to purchase loans in forbearance are providing important stability to the mortgage market during the pandemic. [The] announcement will enable lenders to continue to make low-rate mortgage financing readily available to consumers and avoid the inevitable credit tightening that would have resulted from their expiration.”

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Subscribe to the newsletter

Read the Digital Editions

Midwest Multfiamily & Affordable Housing Business

Western Multfiamily & Affordable Housing Business

Texas Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews