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 Releases, Statements, Speeches and Testimony

 

 

FHFA Extends COVID-19 Multifamily Forbearance through June 30, 2021329883/4/2021 5:00:00 AMNews Release<p> <strong>Washington, D.C. </strong>– Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic. The programs were set to expire March 31, 2021.</p><p>“COVID-19 continues to financially impact Americans across the country, thereby hindering many tenants' ability to pay their rent. To help tenants in financial distress and property owners, FHFA is extending the multifamily COVID-19 forbearance and tenant protections through the end of June 2021,&quot; said Director Mark Calabria. </p><p>Property owners with Enterprise-backed multifamily mortgages can enter a new or, if qualified, modified forbearance if they experience a financial hardship due to the COVID-19 emergency. Property owners who enter into a new or modified forbearance agreement must&#58;</p><ul><li>Inform tenants in writing about tenant protections available during the property owner's forbearance and repayment periods; and</li><li>Agree not to evict tenants solely for the nonpayment of rent while the property is in forbearance.</li></ul><p>Additional tenant protections apply during the repayment periods. These protections include&#58;</p><ul style="list-style-type&#58;disc;"><li>Giving tenants at least a 30-day notice to vacate;</li><li>Not charging tenants late fees or penalties for nonpayment of rent; and</li><li>Allowing tenant flexibility in the repayment of back-rent over time, and not necessarily in a lump sum.</li></ul><p>In addition to requiring written tenant notification, the Enterprises have posted the tenant protections to their respective online multifamily property lookup tool websites. The property lookup tools make it easier for tenants to find out if the multifamily property in which they reside has an Enterprise-backed mortgage.</p><p>These actions are just the latest steps FHFA has taken to benefit renters, property owners and the mortgage market during the pandemic. FHFA will continue to monitor the data and the coronavirus' impact on tenants, borrowers, and the mortgage market and update policies as needed. FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit&#160;<a href="https&#58;//www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/">consumerfinance.gov/housing</a>&#160;for up-to-date information on their relief options, protections, and key deadlines.</p>3/4/2021 6:00:41 PMHome / Media / FHFA Extends COVID-19 Multifamily Forbearance through June 30, 2021 News Release 1124https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Authorizes More than $1 Billion for Affordable Housing Funds328753/1/2021 5:00:00 AMNews Release<p><strong>Washington, D.C. </strong>– FHFA Director Mark Calabria announced today that he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac's (the Enterprises) affordable housing allocations for 2020. This is the largest amount ever disbursed and more than double what was provided last year. Of the Enterprises' provided funds, $711 million will go to the U.S. Department of Housing and Urban Development (HUD) for the Housing Trust Fund, an increase from the $326.4 million disbursed for 2019. The sum of $383 million will go to the Department of the Treasury (Treasury) for the Capital Magnet Fund, an increase from the $175.8 million disbursed for 2019.</p><p>“The more than $1 billion disbursed today will help produce and preserve affordable housing throughout the country. The record increase in house prices last year exacerbated the affordable housing shortage. To help increase the supply of affordable housing in our communities, FHFA remains steadfast in support of the Housing Trust Fund and Capital Magnet Fund,&quot; said Director Mark Calabria. &#160;</p><p>The Housing Trust Fund, overseen by HUD, allocates money annually to states and state-designated entities for the production or preservation of affordable housing through the acquisition, new construction, reconstruction, and/or rehabilitation of non-luxury housing. </p><p>The Capital Magnet Fund, overseen by Treasury, competitively awards money to finance affordable housing activities, as well as related economic development activities and community service facilities. </p>3/1/2021 3:00:04 PMHome / Media / FHFA Authorizes More than $1 Billion for Affordable Housing Funds News Release 2635https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Extends COVID-19 Forbearance Period and Foreclosure and REO Eviction Moratoriums328202/25/2021 5:00:00 AMNews Release<p> <strong>​Washington, D.C.</strong> – Today, the Federal Housing Finance Agency (FHFA) announced extensions of several measures to align COVID-19 mortgage relief policies across the federal government. </p><p>FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until June 30, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions. The current moratoriums were set to expire on March 31, 2021.</p><p>FHFA also announced that borrowers with a mortgage backed by Fannie Mae or Freddie Mac may be eligible for an additional three-month extension of COVID-19 forbearance. This additional three-month extension allows borrowers to be in forbearance for up to 18 months.&#160; Eligibility for the extension is limited to borrowers who are in a COVID-19 forbearance plan as of February 28, 2021, and other limits may apply.&#160; Further, COVID-19 Payment Deferral for borrowers with an Enterprise-backed mortgage can now cover up to 18 months of missed payments. COVID-19 Payment Deferral allows borrowers to repay their missed payments at the time the home is sold, refinanced, or at mortgage maturity. </p><p>“Borrowers and the housing finance market alike can benefit during the pandemic from the consistent treatment of mortgages regardless of who owns or backs them. From the start of the pandemic, FHFA has worked to keep families safe and in their home, while ensuring the mortgage market functions as efficiently as possible. Today’s extensions of the COVID-19 forbearance period to 18 months and foreclosure and eviction moratoriums through the end of June will help align mortgage policies across the federal government,” said Director Mark Calabria.</p><p>These actions are just the latest steps FHFA has taken to benefit homeowners and the mortgage market during the pandemic. FHFA continues to monitor the effect of the COVID-19 servicing policies on borrowers, the Enterprises and their counterparties, and the mortgage market.&#160; FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit&#160;<a href="https&#58;//www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/">consumerfinance.gov/housing</a>&#160;for up-to-date information on their relief options, protections, and key deadlines. </p> <font color="#000000" face="Times New Roman" size="3"> </font>2/25/2021 3:00:14 PMAligns COVID-19 mortgage relief policies across the federal government Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced extensions of several measures 7060https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx