No Lump Sum Required for Fannie Mae, Freddie Mac Mortgages in Forbearance
Federal Housing Finance Agency (FHFA) Director Mark Calabria announced on April 27 that borrowers in forbearance with a Fannie Mae or Freddie Mac-backed mortgage are not required to repay the missed payments in one lump sum.
“No lump sum is required at the end of a borrower’s forbearance plan for Enterprise-backed mortgages,” said Calabria. “While today’s statement only covers Fannie Mae and Freddie Mac mortgages, I encourage all mortgage lenders to adopt a similar approach.”
In a press release, FHFA said the announcement was made “to combat ongoing misinformation” about the forbearance plan home owners are entitled to under the CARES Act.
Latest from NAHBNow
Jul 10, 2025
NAHB Presents Oral Arguments Challenging HUD’s 2021 IECC MandateOn July 9, the Federal District Court for the Eastern District of Texas heard oral arguments in NAHB’s challenge to the government’s final determination requiring that homes built under certain housing programs comply with the 2021 International Energy Conservation Code (IECC) and 2019 ASHRAE-90.1.
Jul 10, 2025
Remodeling Market Sentiment Dips in Second QuarterNAHB released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter, posting a reading of 59, down four points compared to the previous quarter. While the reading of 59 is still in positive territory, this is only the second time the RMI has dipped below 60 since the survey was revised in the first quarter of 2020.
Latest Economic News
Jul 09, 2025
Mortgage Applications Picked Up in June as Rates EasedMortgage application activity picked up in June, supported by a slight decline in interest rates. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 5.4% from May on a seasonally adjusted basis. Compared to June 2024, total applications were up 21.1%.
Jul 09, 2025
Who’s Still Working from Home in 2025? A Look at America’s Telework TrendsRemote work may no longer dominate the U.S. labor force as it did during the height of the pandemic in 2020, but it still represents a substantial share of employment today.
Jul 08, 2025
Top Ten Builder Share Rises Again in 2024The top ten builders captured a record 44.7% of all new U.S. single-family home closings in 2024, up 2.4 percentage points from 2023 (42.3%).