WASHINGTON, D.C.—“These are no normal times.” With those words, Mortgage Bankers Association Robert Broeksmit, CMB, not only described the past few months, but also set the tone for the future of the real estate finance industry and life in general.

Fannie Mae and Freddie Mac issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.