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FHFA Director Mark Calabria[/caption]
The coronavirus relief bill passed by Congress in March allowed homeowners to ask for up to a year’s moratorium on their mortgage payments, but mortgage servicers were still required to advance funds to investors even when borrowers didn’t make payments.
The FHFA, which regulates Fannie Mae and Freddie Mac, has said the government-backed mortgage giants will no longer require servicers to advance funds after four months on mortgages in forbearance.
