Fannie Mae Extends COVID-19 Flexibilities into 2021

Weiner Brodsky Kider PC
Contact

Weiner Brodsky Kider PC

Fannie Mae recently updated two Lender Letters, LL-2020-03 and LL-2020-04, to further extend certain temporary policies related to COVID-19. 

LL-2020-03 addresses temporary COVID-19 measures related to origination. This most recent update to LL-2020-03 extends Fannie Mae’s existing temporary flexibilities related to verbal verifications of employment and powers of attorney, which will now continue in effect for loans with application dates on or before January 31, 2021.  Previously, the applicable application deadline was December 31, 2020.

Similarly, with LL-2020-04, which generally addresses COVID-19 implications for appraisals, Fannie Mae extended the temporary appraisal flexibilities to loans with application dates on or before January 31, 2021 (from December 31, 2020). 

WBK previously reported on the guidance in LL-2020-03 and LL-2020-04 here and here.

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.

© Weiner Brodsky Kider PC | Attorney Advertising

Written by:

Weiner Brodsky Kider PC
Contact
more
less

Weiner Brodsky Kider PC 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

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.