A new report from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA), MBA’s 501(c)(3) trust fund that supports independent research on housing finance and policy, found that while pandemic-era forbearance helped most borrowers avoid foreclosure, the federal Homeowner Assistance Fund (HAF) became a critical backstop for more vulnerable homeowners who needed help beyond traditional loss mitigation.

The study, released Tuesday, examines the $10 billion federal program created in 2021 to assist homeowners affected by COVID-19 and analyzes how HAF dollars were distributed nationwide, how states implemented their programs and the characteristics of borrowers who received assistance.

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