The senator flagged the risk of improper foreclosures if servicers begin the foreclosure process before a borrower has an opportunity to either extend forbearance or be evaluated for a modification.
More than 31,000 seriously delinquent borrowers have yet to take advantage of forbearance, according to James Clyburn, chairman of the House Select Subcommittee on the Coronavirus Crisis.
Fannie issued $167.49 billion in short-term debt through Aug. 31, compared to $550.47 billion for all of 2019. Meanwhile, its long-term debt issuance expanded to $165.72 billion from $21.55 billion.
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