Act forbearance provisions for HECMs, including that: “[p]ursuant to the COVID-19 National Emergency, upon request of the Borrower, the Mortgagee must delay submitting a request to call a loan due and payable. According to the agency, eligibility for the extension is limited to borrowers who are on a COVID-19 forbearance plan as of Feb. 28, 2021. not able to establish QRPC during the forbearance plan. Additionally, the company announced a one-month extension … Borrowers also have the right to apply for an extension of another 180 days of forbearance. ... Fannie Mae and Freddie Mac, ... (like a forbearance) is in place specific to COVID-19. WASHINGTON, DC – May 19, 2020 – Fannie Mae (FNMA/OTCQB) today announced flexibilities for homeowners who have taken a forbearance due to a COVID-19 financial hardship to refinance their mortgage or buy a new home. Updated Guidance Also Extends Expiration Date of Criteria for Purchasing Loans in Forbearance. Loans in forbearance due to a COVID-19 hardship with note dates on or after Feb. 1, 2020 and on or before Dec. 31, 2020 may be delivered to Fannie Mae beginning May 1, 2020 according to the following schedule. You have until June 30, 2021 to request the initial COVID forbearance for whatever type of covered federal mortgage you have. The initial extension period may be up to 6 months. If you had a prior forbearance as of February 28, 2021, you are eligible for an additional three-month extension of your COVID-19 forbearance. This additional three-month extension allows borrowers to be in forbearance for up to 18 months. FHFA also announced that borrowers with a mortgage backed by Fannie Mae or Freddie Mac may be eligible for an additional three-month extension of COVID-19 forbearance. If needed, an additional period of up to 6 months may be approved by HUD.” a Fannie Mae Flex Modification based on the Unique Requirements for a Borrower Impacted by a Disaster Event (see D2-3.2- 08, Fannie Mae Flex Modification; and if eligible, offer a Fannie Mae Flex Modification. Dear Lender Letter 2021-01 - Extension of foreclosure and eviction moratorium and loan processing flexibilities in connection with the Presidentially Declared COVID-19 National Emergency.. To ask for a forbearance extension, you’ll need to have first applied for that initial forbearance by February 28, 2021 (for Fannie Mae and Freddie Mac loans), or June 30, 2021 (for VA, FHA, USDA, or HUD loans). Learn More See Frequently Asked Questions about Enterprise assistance options for homeowners and renters impacted by COVID-19 or Information for Tenants in Rental Properties With a Fannie Mae or Freddie Mac Mortgage. Fannie Mae’s renter hotline number is 1-877-542-9723 and Freddie Mac’s renter hotline number is 1-800-404-3097. The FHFA said other limits may apply to the extension … the mortgage loan is 90 or more days delinquent If you have a Fannie Mae or Freddie Mac (GSE) loan: All GSE Customers: Currently there is no deadline to enroll in a new forbearance plan for customers who have not had one previously.

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