|"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."