FHFA extends policy on forbearance loan purchases

The Federal Housing Finance Agency extended a temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria set by Fannie Mae and Freddie Mac. The policy is extended for loans originated through Aug. 31.

The FHFA also said it will share with the Consumer Financial Protection Bureau aggregate data on loans that enter forbearance before delivery to the government-sponsored enterprises. The agency said data-sharing will allow it to fulfill its obligation under the “QM Patch” to ensure that loans sold to the enterprises comply with ability-to-repay rules.