Federal Housing Finance Agency Announces Extension of Forbearance for Multifamily Property Owners

The Federal Housing Finance Agency (FHFA) has announced that both Fannie Mae and Freddie Mac are going to be allowing services to extend forbearance for multifamily property owners with existing forbearance agreement for up to three additional months, totaling forbearance up to six months. FHFA Director Mark Calabria said, “During the pandemic, FHFA has been focused on protecting renters and borrowers while ensuring the mortgage market functions as efficiently as possible. The multifamily mortgage forbearance extension announced today will help renters stay in their homes and help property owners retain their properties.”