Home > Servicing Newslinks > MBA Servicing NewsLink Tuesday, June 16, 2020

FHFA Extends GSE COVID-Related Loan Processing Flexibilities Through July

June 11, 2020

The Federal Housing Finance Agency extended several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19 national emergency through at least July 31.

These flexibilities 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; and
  • Authority to purchase mortgages in forbearance. 
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