The Federal Housing Finance Agency (FHFA) announced January 19, 2021 the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from January 31, 2021 to February 28, 2021. The moratorium on evictions from single-family homes owned by Fannie Mae or Freddie Mac also is extended until February 28, 2021. The announcement does not address evictions from multi-family properties subject to a Fannie Mae or Freddie Mac loan.
Fannie Mae addresses the foreclosure moratorium extension in Lender Letter 2021-02, and Freddie Mac addresses the foreclosure moratorium extension in Bulletin 2021-3. Both Fannie Mae and Freddie Mac advise that the moratorium does not apply to properties determined to be vacant or abandoned.
In Lender Letter 2021-02, Fannie Mae also sets forth policies previously published in the December 9, 2020, update to Lender Letter 2020-02, with revisions.
Copyright © 2021 by Ballard Spahr LLP.
(No claim to original U.S. government material.)
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.
This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.