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 16th forbearance report, which details data received from master servicers that demonstrates the impact of these plans on our securitizations.

Read the August report.

Master servicers on Freddie Mac securitized loans have reported 304 forborne loans totaling $2.3 billion as of August 25. This equates to 0.6% of the outstanding securitized unpaid principal balance (UPB) and 1.1% of the total Freddie Mac securitized loan population by loan count.

  • In August, 63 loans terminated their forbearance agreement, and no new loans took forbearance – a first for the COVID-19 forbearance program.
  • A high proportion of loans, 89.6% by loan count and 91.7% by UPB, whose forbearance period ended in August or earlier, are currently making payments or have fully repaid their forborne payments.
  • There are 83 forborne loans that are in special servicing: 72 in SB-Deals®, 10 in K-Deals® and one in a Q-DealSM.

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