FREDD I E MAC AND FANN I E MAE ARE BACK OUT TO PLAY While lenders and investors are eagerly anticipating a return to normalcy in some form, the big players are making moves and doing their part to see that return through. The Government Sponsored Entities (GSEs), as some of the biggest players, are who to monitor at this time.
The country has finally reached the turning point in the ongoing struggle with COVID-19. What once appeared to be — and absolutely felt like — an uphill battle has now begun its first laps on the “old news” track as vaccinations continue to be administered and more states begin to soften their pandemic- era lockdown and social distancing policies. Most importantly, the economy is proving itself ripe for being restored to its former glory. Of course, in the world of multifamily finance, we’re experiencing some movement in that regard as well. As the sun begins to set on the pandemic, there seems to be a ton of hustle and bustle over at Fannie Mae and Freddie Mac. For starters, there has been a third and possibly final extension to COVID-19 tenant protections. The official word on the matter is that both Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30, 2021. The FHFA Director confirmed as much in a statement addressing the decision.
A RETURN TO PRE- COVI D CRED IT PARAMETERS AND THE ROLL-BACK OF DEBT SERVI CE RESERVES S I GNAL THE END OF PANDEMI C-RELATED
UNDERWR ITI NG RESTR I CTI ONS .
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