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FHFA Issues Second Moratorium Extension

Posted By USFN, Wednesday, June 17, 2020

The Federal Housing Finance Agency (FHFA) announced Wednesday that Fannie Mae and Freddie Mac will be extending their moratorium on foreclosures and evictions until at least August 31. This is the second time the FHFA has extended the expiration date, after announcing in May that the moratorium would expire on June 30.

The U.S. Department of Housing and Urban Development (HUD) also issued Mortgagee Letter 2020-19, which stated the moratorium applied to “all FHA Title II Single Family forward and Home Equity Conversion Mortgage (reverse) mortgage programs except for FHA- insured mortgages secured by vacant or abandoned properties.”

The move is a continuation of a directive from the FHFA, in which Fannie Mae and Freddie Mac were originally instructed on March 18 to suspend foreclosures and evictions for at least 60 days. The FHFA had enacted the first moratorium in response to the national emergency that was declared on March 13 by President Trump due to the COVID-19 outbreak.


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