Fannie Mae has released a report forecasting a dismal housing market for the next two years. The report cites numerous factors including the current pandemic, rising unemployment, and a decrease in overall consumer confidence. This is obviously not good news for the housing market or for those who are involved in it, such as private mortgage loan servicing companies. The report does offer some hope, however, noting that the market has shown resilience in the past and could rebound sooner than expected if the current situation improves. In the meantime, servicing companies will need to be prepared for increased default rates and foreclosures.