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Fannie, Freddie to Suspend Foreclosures to Aid Virus Relief

  • FHFA directs companies to hold off on foreclosures for 60 days
  • Fannie and Freddie will also suspend property evictions
Bloomberg business news
Trump Says HUD Will Suspend Foreclosures Until End of April
Updated on

Fannie Mae and Freddie Mac and the Department of Housing and Urban Development all plan to suspend mortgage foreclosures, adding to the federal government’s aggressive response to help Americans hit hard by the economic pain of the coronavirus.

Fannie and Freddie, mortgage giants that backstop about $5 trillion of home loans, will halt foreclosures for 60 days, their regulator, the Federal Housing Finance Agency said in a Wednesday statement. President Donald Trump separately announced that HUD would suspend foreclosures and evictions through the end of April.