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 To cover projected Covid-19 losses
Posted by Bear900/CA on 11/21/20 12:55pm

"The fee is necessary to cover projected COVID-19 losses of at least $6 billion at the Enterprises. Specifically, the actions taken by the Enterprises during the pandemic to protect renters and borrowers are conservatively projected to cost the Enterprises at least $6 billion and could be higher depending on the path of the economic recovery.

Those expenses are expected to at least include:

$4 billion in loan losses due to projected forbearance defaults;
$1 billion in foreclosure moratorium losses; and
$1 billion in servicer compensation and other forbearance expenses."
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