FHFA Further Extends COVID-Related Loan Flexibilities (Updated)

Orrick - Finance 20/20
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Orrick - Finance 20/20

On January 13, the Federal Housing Finance Agency (FHFA) announced that it will extend several loan origination flexibilities until February 28, 2021, that were set to expire on January 31, 2021. The extended flexibilities include alternative appraisals on purchase and rate term refinance loans, alternative methods for documenting income and verifying employment before loan closing and expanding the use of power of attorney to assist with loan closings. Release.

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. Attorney Advertising.

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