MBA Statement on FHFA Extending Pandemic-Related Programs

CONTACT
John Mechem
jmechem@mba.org
(202) 557-2799

WASHINGTON, D.C. (August 26, 2020) - MBA's President and CEO Bob Broeksmit, CMB, issued the following statement on the announcement by the Federal Housing Finance Agency (FHFA) extending, through September 30, 2020, Fannie Mae and Freddie Mac's loan origination flexibilities, as well as the entities' programs to buy loans in forbearance:

"MBA and its members appreciate FHFA and the GSEs extending these important features. Both the origination flexibilities and the program to purchase loans in forbearance are providing important stability to the mortgage market during the pandemic, and today's announcement will enable lenders to continue to make low rate mortgage financing readily available to consumers and avoid the inevitable credit tightening that would have resulted from their expiration."