The Biden administration today re-upped the foreclosure ban for federally backed mortgages for a final month.
The White House said in a statement that three federal agencies that back mortgages — the United States Department of Agriculture (USDA), the Department of Veterans Affairs (VA) and the Department of Housing and Urban Development (HUD) — would extend the pandemic-related foreclosure ban until the end of July.
The Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, will similarly extend its foreclosure limit through the end of July. FHFA has a newly-appointed acting director, veteran regulator Sandra Thompson. On Wednesday, the Biden administration ousted Trump-appointee Mark Calabria following a Supreme Court ruling that eliminated restrictions on firing the FHFA director.
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