Freddie Mac implemented a forbearance relief plan in March 2020 that allows qualifying Multifamily borrowers to defer up to three months of mortgage payments. In June 2020, we announced new supplemental relief options for qualified affected borrowers. Today, we are releasing our 13th forbearance report, which details data received from master servicers that demonstrates the impact of these plans on our securitizations.

Read the April report.

Master servicers on Freddie Mac securitized loans have reported 1,154 forborne loans totaling $7.3 billion as of April 26. This equates to 2.1% of the outstanding securitized unpaid principal balance (UPB) and 4.3% of the total Freddie Mac securitized loan population by loan count.

  • In April, there was a net decrease of 17 loans in forbearance, with 22 loans terminating forbearance and five new loans in forbearance.
  • A majority of loans, 82.8% by loan count and 84.2% by UPB, whose forbearance period ended in April or earlier, are currently making payments or have fully repaid their forborne payments.
  • Per new guidance published in March, new forbearance and supplemental relief requests will now be accepted through June 30, 2021.

Check out these links for additional information about our forbearance relief program and its impact to our Multifamily securitizations.