Conventional Loans in Forbearance Status - Update #20-33

12/15/2020

Program Update #20-33 dated 12/15/20

NIFA is sending this Program Update to inform Lender Partners of a recent announcement from Fannie Mae and Freddie Mac ("the GSEs") that adds potential risk in connection with the closing, purchase and delivery of conventional loans that fall into a forbearance status due to COVID-19.

We plan to keep a very close eye on the development of this announcement and understand your organization will be assessing this ongoing risk for conventional loans, whether they are NIFA loans or not, and we encourage an open line of communication as we address the implications.

Please let us know if you have any questions.  Thanks for your partnership!