Skip to main content

FHFA Extends COVID-Related Loan Flexibilities

Nov 13, 2020
FHFA headquarters
Director of Events

The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will extend several loan origination flexibilities until Dec. 31, 2020.

The FHFA approved the extensions in support of borrowers who have been affected by the COVID-19 pandemic, as well as those who are looking to purchase a home during the current national emergency. Initially, the current flexibilities were set to expire on Nov. 30, 2020.

These extensions include alternative appraisals on purchase and rate term refinance loans, alternative methods for documenting income and verifying employment before loan closing and the use of a power of attorney to assist with loan closings.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Nov 13, 2020
Taking Fannie And Freddie Public A Good Move Or Not: NMP Readers Respond

Survey returns mixed, polarized results from respondents — along with significant uncertainty

5 Questions On Potential Changes To Fannie And Freddie

Polunsky Beitel Green Principal Marty Green talks changes at the GSEs and impacts they could have on housing and mortgage

Housing, Economic Leaders Embrace New Digital Opportunities

It’s Crypto Week at the Capitol, with some getting ready for breakthrough regulations that could change financial services

Some Question Lenders’ And Others’ Readiness To Use VantageScore 4.0

Following FHFA announcement Tuesday, doubts arise regarding potential changes that may be needed to move to VantageScore credit scoring

HUD Freezes Foreclosures On FHA Mortgages In Texas Flood Zone

Kerr County homeowners among hardest hit in disaster that’s claimed more than 100 lives

Jul 09, 2025
Fannie, Freddie Now Allow Lenders To Use VantageScore 4.0

Lenders will keep tri-merge credit scoring model; what this shift means