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FHFA Director Calabria statement on coronavirus
FHFA Director Calabria issued a statement yesterday on the coronavirus:
- “To meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac (“the Enterprises”) reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment. For borrowers that may be experiencing a hardship, I encourage you to reach out to your servicer. The Enterprises and the Federal Home Loan Banks continue to provide support to the secondary mortgage market, and the UMBS [Uniform Mortgage Backed Securities] market continues to operate at its normal level.”