Fannie-Freddie Won’t Require Lump-Sum Forbearance Repayments
- FHFA moves to ‘combat ongoing misinformation’ on borrower aid
- Stimulus bill didn’t say what happens when forbearances end
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Fannie Mae and Freddie Mac’s regulator said Monday that borrowers benefiting from programs that let them skip mortgage payments due to the coronavirus pandemic won’t have to make lump-sum repayments when the crisis passes.
The Federal Housing Finance Agency’s announcement is meant to “combat ongoing misinformation” about the forbearance plans homeowners are entitled to seek under the $2 trillion economic stimulus package enacted last month, Director Mark Calabria said in a statement.