FHFA Extends Foreclosure and Eviction Moratoriums

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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