Many borrowers won’t have to make missed mortgage payments all at once

The Federal Housing Finance Agency affirmed Monday that borrowers who are approved to pause or temporarily reduce their mortgage payments and whose loans are owned by Fannie Mae or Freddie Mac are not required to make a lump-sum payment when the relief period ends. The independent federal agency oversees Fannie Mae and Freddie Mac, government-sponsored entities that purchase mortgage loans from lenders and back more than 40 percent of U.S. mortgages, according to the Urban Institute.