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FHFA Pauses Foreclosures for Homeowners Who Seek HAF Aid

Friday, Apr 08 2022
Lending
Written by  The Mortgage Leader

The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will force servicers to put foreclosure activities on hold if the servicer has been informed that a borrower has applied for aid from the Treasury Department’s Homeowner Assistance Fund.

FHFAServicers would be required to suspend such foreclosures for up to 60 days.

“Today’s action will provide borrowers who need temporary mortgage assistance with additional time to be evaluated for relief through their state’s approved Homeownership Assistance Fund,” said Sandra Thompson, FHFA’s acting director, according to the announcement,

Read the full announcement.

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