With higher-than-average rains predicted for the rest of the summer, officials at Fannie Mae and Freddie Mac are asking mortgage servicers to extend the "utmost compassion" to homeowners who have been stricken by the massive flooding in the Midwest.

The two enterprises recently announced special provisions within their guidelines that allow customers to extend mortgage payment relief on a case-by-case basis to homeowners whose loans have been sold through them and who have been affected by the flooding. These provisions include:

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