August 14, 2020
Freddie Mac implemented a forbearance relief plan in March that allows qualifying multifamily borrowers to defer up to three months of mortgage payments. In June, we announced new supplemental relief options for qualifed affected borrowers. Today, we are releasing our fourth forbearance report which details data received from master servicers that demonstrates the impact of these plans on our securitizations.
We found that master servicers reported 1,252 forborne securitized loans, or 5.2% of our total securitized loan population. This equates to about $7.8 billion of outstanding unpaid principal balance (UPB) and represents 2.6% of our total securitized UPB. By comparison, in our June 30 Forbearance Report, we noted a total of 1,189 forborne loans for $7.9 billion UPB. Other key findings of the July report include:
Check out these links for additional information about our forbearance relief program and its impact to our multifamily securitizations.
Have a comment or question? Email us to let us know what's on your mind.