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Fannie and Freddie Hurricane Assistance Updates

Fannie Mae and Freddie Mac have issued guidance extending requirements and relief options available to eligible borrowers located in qualified disaster areas impacted by all hurricanes occurring in the U.S. and its territories on or after August 25, 2017, and through the 2017 hurricane season.  Before the recent announcement the previously approved relief options were only available for Hurricane Harvey and Irma. Freddie Mac also clarified that the temporary suspension of foreclosure sales and evictions in effect until December 31, 2017 will only apply to Hurricane Harvey, Irma, and now Maria.

Additionally, both Fannie and Freddie announced specific procedures and requirements related to the temporary reimbursement of disaster-related property inspection fees.

For complete details, please review the attached announcements referenced below:

Freddie Mac Bulletin 2017-21

Fannie Mae LL-2017-07