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.