Mortgage Banking COVID-19 Client Alert: FHA, Freddie Mac and Fannie Mae to Suspend Foreclosures and Evictions

Buchalter
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Buchalter

On March 18, President Trump ordered FHA to suspend foreclosures and evictions on FHA-insured loans until at least the end of April. Immediately afterword, the Federal Housing Finance Agency announced that it was directing Freddie Mac and Fannie Mae to suspend foreclosures and evictions on Freddie and Fannie loans for at least 60 days. We expect federal, state and local governments to continue to take steps regarding the COVID-19 crisis that will impact the mortgage industry. As part of Buchalter’s COVID Task Force, our Mortgage Banking Industry Group will continue to inform clients regarding these changes as they develop.

https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Suspends-Foreclosures-and-Evictions-for-Enterprise-Backed-Mortgages.aspx

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