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MORTGAGE SERVICING​


 

Since 2008, FHFA has worked with Fannie Mae and Freddie Mac (the Enterprises) to develop and implement a variety of programs and initiatives to address challenges in the servicing market. FHFA and the Enterprises have worked to align servicers' loss mitigation tools, promote servicing market liquidity and efficiency, and  create stronger counterparty financial requirements. 

While the surge in mortgage delinquencies has a​bated since 2008, the post-crisis mortgage environment is still evolving. This evolution is particularly evident in the area of mortgage loan servicing, as costs to service delinquent loans, heightened regulatory oversight, and an increased reliance on technology continue to impact this fun​damental component of the housing finance industry. New entrants have further transformed the landscape, with non-depository servicers poised to provide needed capacity in place of traditional servicers. 

Servicing Initiatives

FHFA has worked with the Enterprises to develop and implement a number of initiatives. Each initiative reflects FHFA's commitment to supporting a mortgage servicing market that is profitable, sustainable, and liquid. These efforts include a servicing market survey, servicer financial standards development, policy alignment by Fannie Mae and Freddie Mac, and servicer compensation research.

Related Documents: 

Fact Sheet: Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers (8/17/2022)

FAQs: Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers (8/17/2022)

​FHFA/GNMA Comparison: Side-by-Side Comparison of Enterprise and GNMA Requirements (8/17/2022)

FHFA Re-Proposed Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers​ (2/24/2022)

Description and FAQs: Re-Proposal to Enhance Eligibility Requirements for Enterprise Single-Family Seller/Servicers​ (2/24/2022)

FHFA Encourages Landlords of Enterprise-Backed Properties to Apply for Emergency Rental Assistance Before Evicting Tenants  (7/30/2021)

Secretaries of USDA, HUD, VA, Treasury, and FHFA Acting Director Release Joint Statement on Agency Actions to Prevent Evictions (7/30/2021)

FHFA Extends COVID-19 REO Eviction Moratorium Through September 30, 2021 (7/30/2021)

FHFA Expands Use of Interest Rate Reduction to Help Borrowers with a Covid-19 Hardship Reduce their Monthly Mortgage Payment (6/30/2021)

FHFA Protects Borrowers After COVID-19 Foreclosure and REO Eviction Moratoriums End (6/29/2021)

FHFA Extends COVID-19 Foreclosure and REO Eviction Moratoriums (6/24 /2021)

FHFA Announces Extension of COVID-Related Loan Flexibilities (4/21/2021)

FHFA Further Extends COVID-Related Loan Flexibilities (3/11/2021)

FHFA Extends COVID-19 Multifamily Forbearance through June 30, 2021 (3/4/2021) 

FHFA Extends COVID-19 Forbearance Period and Foreclosure and REO Eviction Moratoriums (2/25/2021)

FHFA Further Extends COVID-Related Loan Flexibilities (2/10/2021)

FHFA Extends Foreclosure and REO Eviction Moratoriums and COVID Forbearance Period (2/9/2021)

FHFA Extends Foreclosure and REO Eviction Moratoriums (1/19/2021)

FHFA Further Extends COVID-Related Loan Flexibilities (1/14/2021)

FHFA Extends COVID-19 Multifamily Forbearance Through March 31, 2021 (12/23/2020)

FHFA Further Extends COVID-Related Loan Flexibilities (12/10/2020)

FHFA Extends Foreclosure and REO Eviction Moratoriums (12/2/2020)

FHFA Further Extends COVID-Related Loan Flexibilities (11/13/2020)

Temporary Policy Allowing Purchase of Qualified Loans in Forbearance Extended (11/12/2020)

Temporary Policy Allowing Purchase of Qualified Loans in Forbearance Extended (10/21/2020)

FHFA Further Extends COVID-Related Loan Flexibilities(10/19/2020) 

FHFA Further Extends Buying Loans in Forbearance & COVID-Related Loan Processing Flexibilities (9/24/2020)

FHFA Further Extends Buying Loans in Forbearance & COVID-Related Loan Processing Flexibilities (8/26/2020)

FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Through August (7/9/2020)

FHFA Extends Foreclosure and Eviction Moratorium; Moratorium applies to Enterprise-backed mortgages (6/17/2020)

FHFA Makes Translated COVID-19 Resources Available in Six Languages; COVID-19 Servicing Scripts and Mortgage Assistance Application translations now available (6/16/2020)

FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Through July (6/11/2020)

FHFA Announces Refinance and Home Purchase Eligibility for Borrowers in Forbearance (5/19/2020)

FHFA Extends Foreclosure and Eviction Moratorium;  Moratorium applies to Enterprise-backed mortgages (5/14/2020)

Enterprises to Offer Payment Deferral as a New Repayment Option for Homeowners in COVID-19 Forbearance Plans (5/13/2020)

CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19 (5/12/2020)

FHFA Extends Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers  (5/5/2020)

"No Lump Sum Required at the End of Forbearance" says FHFA's Calabria  (4/27/2020)

FHFA Announces that Enterprises will Purchase Qualified Loans in Forbearance to Keep Lending Flowing (4/22/2020)

FHFA and CFPB Announce Borrower Protection Program (4/15/2020)

FHFA Suspends Foreclosures and Evictions for Enterprises During National Emergency (3/18/2020)

Statement from FHFA Director Mark Calabria on Coronavirus (3/10/2020)​

FHFA Proposes Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers (1/31/2020)

FAQs: Updated Eligibility Requirements for Enterprise Single-Family Seller/Servicers (1/31/2020)

Fannie Mae and Freddie Mac Joint Servicing Market Survey Executive Summary (April 2018) 

Fannie Mae and Freddie Mac Joint Servicing Market Survey Results (April 2018)

Requirements for Enterprise Seller/Servicers [page]

Alternative Mortgage Servicing Compensation Initiative [page]

Loss Mitigation Programs [page]

Page last updated:  August 25​, 2022​​​​

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