Fannie Mae issued Lender Letter LL-2021-02 to extend the COVID-19 foreclosure moratorium and amend COVID-19 forbearance provisions. Per the Lender Letter, Fannie Mae extended the COVID-19 foreclosure moratorium through June 30, 2021. Fannie Mae also extended the allowable term of a COVID-19 forbearance for borrowers who are on an active COVID-19 forbearance plan as of February 28, 2021. A servicer is authorized to grant 2 forbearance plan term extensions of up to 3 months each (provided the plan term does not exceed 18 months of total delinquency or a cumulative term of 18 months, whichever is shorter).
Click to view the Fannie Mae Lender Letter LL-2021-02: https://www.tenaco.com/wp-content/uploads/2021/03/Fannie-Mae-Lender-Letter-LL-2021-02.pdf
