The Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac not to foreclose on borrowers if they suspend evictions for 60 days. Here’s the text of the order (here’s a link to the FHFA site):

To keep renters in multifamily properties in their home and to support multifamily property owners during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) is announcing that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus. The eviction suspensions are in place for the entire duration of time that a property owner remains in forbearance. The forbearance is available to all multifamily properties with an Enterprise-backed performing multifamily mortgage negatively affected by the coronavirus national emergency. 

Federal Housing Finance Agency

There is no direction on exactly how this will be implemented but it is welcome news at least for some providers. While some will be helped by this, we still haven’t seen banks and other lenders investors make the same move. However, it is the right direction. No housing provider wants anyone to lose their home, but they also can’t provide that home if they go out of business.