The Federal Housing Finance Agency (FHFA) is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19 national emergency. Flexibilities extended until at least July 31 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
– Authority to purchase mortgages in forbearance
Source: fhfa.gov
