Washington Report

Advocacy Updates from Washington D.C.

NAR Asks FHFA to Extend Forbearance Purchase Program

NAR sent a letter to the Federal Housing Finance Agency (FHFA) requesting it to extend the GSEs' program of purchasing eligible loans that enter forbearance after closing and funding, but prior to purchase by Fannie Mae or Freddie Mac. The program is set to expire on August 31.

While the volume of loans that fall into this group is low, the threat of locking up lenders' lines, in part, has resulted in lender overlays. Furthermore, this volume could rise in the fall.

NAR's Letter to the FHFA

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.