- Federal regulators have changed rules and cleared up some confusion about limits placed on the over 4 million borrowers in the mortgage relief program the government rolled out to contend with the coronavirus’ economic onslaught.
- Lending rules that were in place before the pandemic left borrowers with little clarity about how they could get future mortgages or refinance their loans.
- Yet on Tuesday, the director of the Federal Housing Finance Agency announced that borrowers may now refinance or buy a home with a new mortgage if they have started making payments on their current mortgage again.
Federal regulators have changed rules and cleared up some confusion about limits placed on the over 4 million borrowers in the mortgage relief program the government rolled out to contend with the coronavirus’ economic onslaught.
Lending rules that were in place before the pandemic left borrowers with little clarity about how they could get future mortgages or refinance their loans. Yet on Tuesday, the director of the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, announced that borrowers may now refinance or buy a home with a new mortgage if they have begun to make payments on their current mortgage again.
Diana Olick | CNBC