Fannie Mae and Freddie Mac Further Revise Origination Guidance In Connection With COVID-19

Ballard Spahr LLP
Contact

Ballard Spahr LLP On April 14, 2020, Fannie Mae again updated Lender Letter 2020-04 and Freddie Mac issued Bulletin 2020-11 to further revise their guidelines regarding mortgage loan originations in view of COVID-19 with regard to appraisals and project eligibility reviews for condominiums. The temporary flexibilities apply to loans with application dates on or before May 17, 2020. Freddie Mac also updated guidance on post-funding quality control requirements and remote online notarization (RON).

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ballard Spahr LLP | Attorney Advertising

Written by:

Ballard Spahr LLP
Contact
more
less

Ballard Spahr LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide