Fannie, Freddie Extend Foreclosure Ban

Another month of security. The Federal Housing Finance Agency announced Wednesday that Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate owned evictions until at least January 31. Originally enacted earlier this year to protect homeowners during the Covid pandemic, the moratorium applies to Fannie and Freddie-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by Fannie and Freddie through foreclosure or deed-in-lieu of foreclosure transactions. “Extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic,” Director Mark Calabria said. “This extension gives peace of mind to the more than 28 million homeowners with an Enterprise-backed mortgage.” FHFA projects…

NAHB Seeks To Block CDC Eviction Ban

The National Association of Home Builders has filed suit in federal court challenging the Centers for Disease Control and Prevention’s order that bans residential evictions through the end of the year to prevent the spread of Covid-19. The CDC order, issued in September under the Public Health Service Act, covers renters of apartments or residential properties – but does not include a ban on foreclosures on home mortgages. It requires renters to certify to landlords that they would become homeless or forced to live with others “in close quarters” if they were to be evicted. NAHB objects to the order because it provides “no relief for landlords who must continue to pay bills, maintain the units and pay their employees…

CDC Issues Ban On Evictions

The Centers for Disease Control and Prevention issued a public health order Tuesday that bans residential evictions through the end of the year to prevent the spread of Covid-19. The CDC order, issued under the Public Health Service Act, covers renters of apartments or residential properties – but does not include a ban on foreclosures on home mortgages. It requires renters to certify to landlords that they would become homeless or forced to live with others “in close quarters” if they were to be evicted.  “In the context of a pandemic, eviction moratoria—like quarantine, isolation, and social distancing—can be an effective public health measure utilized to prevent the spread of communicable disease,” the CDC said in the order posted in the…