Mortgage bank PNC Financial Services Group (PNC) is suspending evictions on occupied foreclosed homes during the holiday season.
The eviction moratorium will run from Dec. 19 through Jan. 2, the firm said. PNC, which invests in the residential mortgage banking space as well as asset management, may be an investor in properties where the owner is currently facing foreclosure.
The company's announcement arrives after Fannie Mae and Freddie Mac made the same provisions for distressed borrowers by promising no evictions during the holidays.
"We hope this suspension provides families who are experiencing financial hardship some stability over the holiday season," said Saiyid Naqvi, chief executive officer of PNC Mortgage.