Fannie Mae Extends Temporary Origination and Appraisal Policies
Today, Fannie Mae released Lender Letters LL-2021-03, Impact of COVID-19 on Originations, and LL-2021-04, Impact of COVID-19 on Appraisals, to its single-family sellers communicating temporary policies in response to the COVID-19 national emergency. These Lender Letters contain the policies previously published in LL-2020-03 and LL-2020-04 on December 10, 2020, with the changes noted below.
- LL-2021-03, Impact of COVID-19 on Originations, extends application dates to February 28, 2021 for verbal verifications of employment and power of attorney flexibilities.
- LL-2021-04, Impact of COVID-19 on Appraisals, extends the application dates eligible for these temporary flexibilities to February 28, 2021, unless otherwise noted.
For additional details view the Lender Letters or visit our COVID-19 Investor Resources webpage.