Did Fannie Mae Extends Moratorium?

​​Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratorium on single-family real estate owned (REO) evictions until September 30, 2021.

What was the Fannie Mae scandal?

16, 2011 — The Securities and Exchange Commission today charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading statements claiming the companies had …

How did Fannie Mae and Freddie Mac contribute to the mortgage crisis?

Fannie Mae and Freddie Mac pumped more and more money into the U.S. home finance system in the years leading up to the financial crisis, buying an outsized number of mortgages on the secondary market. This helped support the bubble in home prices that emerged in 2005 through 2007.

Is there a moratorium on foreclosures in the US?

California (non judicial foreclosure) Extends to September 1, 2021 the requirement that mortgage servicers provide borrowers with written notices of grounds for denial of COVID-related forbearance relief.

Is there a foreclosure moratorium in California?

When will the program end? There is no set date; instead, the state will continue to offer help to homeowners who became delinquent in 2020 and 2021 until it has spent all $1 billion from the federal government, a process that’s expected to take three years.

What is a Notice of FNMA enhancement?

ProFed members are reporting that they have received letters in the mail telling them to call a number regarding their mortgage before a certain date to benefit from a cash disbursement, shortened payment term, or lower mortgage payment. We have reviewed several of these letters and can confirm it is a scam.

What would happen if Fannie Mae failed?

If Fannie and Freddie were allowed to fail, experts agreed that the housing market would collapse even further, paralyzing the entire financial system.

Will mortgage forbearance be extended past 12 months?

An additional COVID-19 Forbearance or HECM Extension period for borrowers recently seeking assistance: FHA is now providing up to six months of additional forbearance for borrowers who requested or will request an initial COVID-19 Forbearance or HECM Extension from their mortgage servicer between July 1, 2021, and …