Legal Alert

FHFA Extends Foreclosure and Eviction Moratoriums

by Richard J. Andreano, Jr.
January 20, 2021

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. 

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