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 14th forbearance report, which details data received from master servicers that demonstrates the impact of these plans on our securitizations.

Read the May report.

Master servicers on Freddie Mac securitized loans have reported 1,144 forborne loans totaling $7.3 billion as of May 25. This equates to 2.0% of the outstanding securitized unpaid principal balance (UPB) and 4.3% of the total Freddie Mac securitized loan population by loan count.

  • In May, there was a net decrease of nine loans in forbearance, with 20 loans terminating forbearance and 11 new loans in forbearance.
  • A higher percentage of the forborne loans are Small Balance Loans (SBL), at 74.7% by loan count, but 31.2% by UPB.
  • A high proportion of loans, 84.2% by loan count and 86.7% by UPB, whose forbearance period ended in May or earlier, are currently making payments or have fully repaid their forborne payments.

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