Replies to post #629080 on Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

I thought the way it worked, is the mortgage servicer passes through the monthly P&I payment to the GSES' for up to 4 months THEN the GSES' are to reimburse the services for the missed payments, THEN for the duration of the forebearance, the GSES' cover the missed payments?

Are the MBS holders to receive the missed payments, someone has to come up with the $4B/month somewhere if that is the case.