Borrowers Receiving Forbearance Will Not Have to Make Lump-Sum Payment When Forbearance Ends
May 5, 2020
Forbearance
Borrowers of federally backed loans owned by Fannie Mae and Freddie Mac will not have to repay missed payments in a lump sum once their forbearance periods end. Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), made this clear in a statement aimed to correct consumer confusion after reports revealed loan servicers…