The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac will offer mortgage forbearance for multifamily property owners who suspend all evictions for renters due to the financial impact from the COVID-19 outbreak. This announcement applies to manufactured housing community owners that have financing through either Fannie Mae or Freddie Mac.
Under this suspension, property owners will be required to suspend evictions throughout the duration of the forbearance. Any property owner with a GSE-backed multifamily mortgage who has been impacted by COVID-19 will be eligible for the forbearance.
For more on this and other GSE developments, please visit the FHFA website.