FHFA Announces Payment Deferral Program for Borrowers in COVID-Related Forbearance

In response to growing concern regarding repayment of loans in forbearance, the FHFA announced on May 13, 2020, that Fannie Mae and Freddie Mac borrowers in forbearance as a result of COVID-19 may defer repayment of those forborne payments until the home is sold, refinanced, or at maturity.  The FHFA notes that servicers will begin offering these deferral options on July 1, 2020.

The announcement is available here.