WASHINGTON—The Federal Housing Finance Agency (FHFA) is again extending its temporary policy allowing the government-sponsored enterprises to purchase certain single-family mortgage loans in forbearance.
It was set to expire Sept. 30 after two previous extensions, and is now extended to Oct. 31, 2020.
In addition to extending the forbearance policy, the FHFA has extended several other relief measures that were set to expire next week, including:
- Alternative appraisals on purchase and rate term refinance loans
- Alternative methods for documenting income and verifying employment before loan closing
- Expanding the use of power of attorney to assist with loan closings
The agency last month also extended its moratorium on foreclosures and evictions through the end of the year.