Mortgage buyers Fannie Mae and Freddie Mac say they will temporarily suspend foreclosure sales and evictions of borrowers in single-family homes owned by their companies. The action is among many efforts nationwide to protect those affected by the coronavirus pandemic. The government-controlled companies also announced an expansion of forbearance programs and the suspension of reporting to credit bureaus of past due payments for certain borrowers hurt by the national emergency. Fannie Mae and Freddie Mac do not make loans, but buy them from lenders and bundle them into securities, guarantee them against default and sell them to investors.
SARAH SKIDMORE SELL
Posted inArticle, Business
Senate OKs big changes to how Americans save for retirement
A major change to how Americans save for retirement is close to becoming law. The Senate on Thursday passed the Secure Act as part of its massive spending package. President Donald Trump is expected to sign it into law. The Secure Act is designed to help more people save more for retirement. Its provisions include making it easier for small businesses to band together to offer retirement plans to employees. It also allows long-term part-time employees to gain access to workplace retirement plans. And it raises the age when retirees must draw from retirement savings.
