The COVID Project
The record
- Jurisdiction
- United States; Federal Housing Finance Agency, as regulator and conservator of Fannie Mae and Freddie Mac (federal)
- Level
- Federal
- Authority
- 12 U.S.C. § 4617(b)(2)
- Issued
- 2020-04-22 Apr. 22, 2020
- Effective
- 2020-04-22 (loans closed on or after February 1, 2020 and delivered by May 31, 2020; extended repeatedly through 2020) (read as 2020-04-22)
- End
- Extended through at least Nov.-Dec. 2020 by later FHFA announcements (read as 2020-12-31)
- In force
- Apr. 22, 2020 to Dec. 31, 2020
- Quarters
- 2020 Q22020 Q32020 Q4
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- Fannie Mae and Freddie Mac and their seller/servicers
- Functions reached
- ML mortgage origination and secondary-market delivery (borrowers entering forbearance between closing and sale)
- SV servicing
- CB borrowers under CARES Act § 4022
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
FHFA Announces that Enterprises will Purchase Qualified Loans in Forbearance to Keep Lending [Flowing]... [The Federal Housing Finance Agency] (FHFA) is approving the purchase of certain single-family mortgages in forbearance that meet specific eligibility [criteria, subject to loan-level price adjustments].
Enforcement
Enterprise purchase eligibility; FHFA conservatorship direction
Notes
Records the federal finding that borrowers were entering CARES Act forbearance so quickly after closing that lenders' warehouse and delivery functions were disrupted
Retrieval noteRendered from the Wayback capture of the FHFA release (dateline 4/22/2020 verified); FED-B holds the FHFA foreclosure and eviction moratoria.