FHFA: GSEs will purchase qualified loans in forbearance

The Federal Housing Finance Agency said it has approved Fannie Mae and Freddie Mac purchases of eligible single-family mortgages in forbearance.

While some borrowers have sought payment forbearance after closing on their loan but before the lender could deliver it to the government-sponsored enterprises, loans that are delinquent or in forbearance are ineligible for delivery under GSE requirements.

The FHFA action temporarily lifts that restriction and prices eligible loans to mitigate the heightened risk of loss to the enterprises.