Freddie Mac issued Bulletin 2021-8 to extend the COVID-19 foreclosure moratorium and amend COVID-19 forbearance and payment deferral provisions. Per the Bulletin, Freddie Mac extended the COVID-19 foreclosure moratorium through June 30, 2021. Freddie Mac 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). In addition, Freddie Mac expanded the COVID-19 payment deferral to a maximum delinquency of 18 months and a maximum deferral of 18 missed monthly payments, and provided clarification with respect to flex modification eligibility for borrowers with a COVID-19 hardship. All revisions are effective immediately.
Click to view the Freddie Mac Guide Bulletin 2021-8: https://www.tenaco.com/wp-content/uploads/2021/03/Freddie-Mac-Guide-Bulletin-2021-8.pdf
