Realtors® Applaud FHFA for Forbearance Announcement, Encourage Extension Through the Fall

WASHINGTON (August 27, 2020) – National Association of Realtors® President Vince Malta issued the following statement after the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will continue buying qualified loans in forbearance through September 30, 2020. In a letter to the FHFA sent Monday, NAR called on the agency to continue its forbearance purchase initiative through this fall while eliminating all fees associated with the program.

“America’s 1.4 million Realtors® are relieved that homebuyers will retain access to affordable mortgage options as the FHFA continues purchasing qualified loans in forbearance through next month,” said Malta. “A strong housing market has helped lead our nation’s recovery process, but the U.S. economy remains in a precarious position as a result of the COVID-19 pandemic. With this move in the right direction, NAR hopes the FHFA will continue working to stabilize markets and provide housing security for more Americans through this and other longer-term initiatives.”

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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