Fannie Mae Re-Extends Covid-19 Flexibilities

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Weiner Brodsky Kider PC

Fannie Mae recently updated two Lender Letters, LL-2021-03 and LL-2021-04, to further extend certain temporary policies related to COVID-19.

LL-2021-03 extends Fannie Mae’s temporary COVID-19 measures related to origination. The update extends the temporary flexibilities related to verbal verifications of employment and powers of attorney, which will continue to be in effect for loans with application dates on or before March 31, 2021. 

Similarly, LL-2021-04 extends Fannie Mae’s temporary COVID-19 measures related to appraisals. These flexibilities are now extended to loans with application dates on or before March 31, 2021.

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.

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