Fannie Mae Extends Temporary Origination and Appraisal Policies

Fannie Mae updated two Lender Letters today to its single-family sellers communicating temporary policies in response to the COVID-19 emergency.

• LL-2020-03, Impact of COVID-19 on Originations, has been updated to extend application dates to January 31, 2021 for verbal verifications of employment and power of attorney flexibilities.
• LL-2020-04, Impact of COVID-19 on Appraisals, has been updated to extend the temporary policies to loans with application dates on or before January 31, 2021, unless otherwise noted.

As a reminder, in accordance with Lender Letter LL-2020-06, loans in forbearance due to COVID-19 with note dates no later than December 31, 2020 may be delivered to us through February 28, 2021. These dates will not be further extended.

For additional details view the Lender Letters or visit our COVID-19 Investor Resources webpage.