Legal Alert

FHFA Announces Fannie Mae and Freddie Mac Will Continue Purchasing Loans in a COVID-19 Forbearance

by the Mortgage Banking Group
September 24, 2020

On September 24, 2020, the Federal Housing Finance Agency (FHFA) announced the extension of the purchase of loans in a COVID-19 forbearance by Fannie Mae and Freddie Mac through October 31, 2020. Additionally, FHFA announced that Fannie Mae and Freddie Mac will extend various loan origination flexibilities due to COVID-19 through October 31, 2020. As previously reported, in August 2020 FHFA announced the extension of the purchase of loans in a COVID-19 forbearance, and the extension of various loan origination flexibilities, through September 30, 2020.

Fannie Mae addresses extensions in updates to Lender Letter 2020-03, Lender Letter 2020-04, and Lender Letter 2020-06. Freddie Mac addresses the extensions in Bulletin 2020-37.

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