WASHINGTON—The Federal Housing Finance Agency (FHFA) has further extended its moratorium on foreclosures and evictions for government-sponsored enterprise (GSE)-backed single-family mortgages.
The moratorium aims to support those borrowers who are at risk of losing their homes as a result of the coronavirus pandemic, NAFCU said.
The FHFA first issued a 60-day moratorium on foreclosures and evictions in March, and then extended that to June 30. This policy is now in place until Aug. 31, 2020. The agency said it will continue to monitor the situation to determine whether additional extensions or policies are needed.
The FHFA has extended several other coronavirus relief efforts in recent weeks, including those related to appraisals, employment verification, and the GSEs' ability to purchase mortgages in forbearance through July, NAFCU noted.