Federal Housing Finance Agency Extends Moratorium on Single-Family Foreclosures and Real Estate Evictions Through February 2021

The Federal Housing Finance Agency (FHFA) announced today (1/19/21) that Fannie Mae and Freddie Mac are once again extending moratoriums on single-family foreclosures and real estate owned evictions through the February 28th, 2021. This marks the fifth time the FHFA has extended the evictions and foreclosure moratorium on a program originally set to expire in June 2020. In announcing the extension, FHFA Director Mark Calabria said, “To keep our communities safe, and families in their homes during the COVID-19 pandemic, FHFA is extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratorium.” The FHFA projects the COVID-19 foreclosure moratorium and its extension will create an additional $1.4 to $2 billion in expenses for the government-sponsored enterprises. Last week the FHFA announced it extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac.