The quick answer is 'YES', you still have to make your rent payment.
The longer answer is, there are two different contract agreements involved here. The one between your landlord and their mortgage co, and the other is between you and your landlord. The two agreements don't really have anything to do which each other.
As long as your rental agreement is in force, then you must make your rent payments or chance having a negative impact on your own credit.
You should definitely contact your landlord as Laura suggested to see if they'll be honest with you and discuss the current situation with the home you're living in. They're not obligated to, but they might do this depending on the relationship you have with them.
You should definitely start looking for somewhere else to live, and make sure that you turn in a 30 day notice to your landlord once you find a new place. Always follow the letter of the law/contract with your rental agreement. You may seek legal counsel as well just to be on the safe side.
Since the foreclosure process can sometimes, but not always, be a lengthy process, you might also consider re-negotiating a lower monthly rent amount that your landlord will accept if you were to stay there until something does happen with the foreclosure, then you could seek a new place to move to at that point. Your landlord may go for that so they at least have some rental income coming in while they decide what they're going to do with your home.
Most of all...GOOD LUCK!