The Federal Housing Finance Agency (FHFA) released a statement on May 14, 2020 announcing the extension of the moratorium on foreclosures and evictions until at least June 30, 2020. The foreclosure moratorium applies to enterprise-backed, single-family mortgages only. The current moratorium was set to expire on May 17, 2020.

A FAQ was published by the Consumer Financial Protection Bureau (CFPB) to address questions surrounding the mortgage origination rules related to the COVID-19 emergency. If you have additional questions about how this impact’s your institution’s mortgage lending operations, contact a Doeren Mayhew regulatory compliance specialist.

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By Heather Feltner, Lending and Compliance Specialist