Fannie Mae and Freddie Mac are extending the moratorium on single-family real estate owned (REO) evictions until September 30, 2021, the Federal Housing Finance Agency (FHFA) has announced.
The REO eviction moratorium applies to properties that have been acquired by one of the GSEs through foreclosure or deed-in-lieu of foreclosure transactions. The current moratorium was set to expire on July 31.
“The pandemic continues to have an outsized impact on the ability of Americans to meet their monthly rent or mortgage payments,” says Sandra L. Thompson, FHFA’s acting director. “The extension of the eviction moratorium protects particularly vulnerable Americans who otherwise would be at risk of losing a place to live.”
The REO eviction moratorium is just the latest step FHFA has taken to benefit homeowners, renters and the mortgage market during the pandemic. FHFA continues to monitor the effect COVID-19 has on borrowers, the GSEs and their counterparties, and the mortgage market. FHFA may revisit its policies based on updated data and health risks.