FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Through July

FOR IMMEDIATE RELEASE

6/11/2020

Washington, D.C. – The Federal Housing Finance Agency (FHFA) is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac (the Enterprises) designed to help borrowers during the COVID-19 national emergency. Flexibilities extended until at least July 31st include:

  • Alternative appraisals on purchase and rate term refinance loans;

  • Alternative methods for verifying employment before loan closing;

  • Expanding the use of power of attorney and remote online notarizations to assist with loan closings; and

  • Authority to purchase mortgages in forbearance. 

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