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.
By Heather Feltner, Lending and Compliance Specialist
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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