The Federal Housing Finance Agency has extended a number of loan origination flexibilities for Fannie Mae and Freddie Mac customers, most of which are extended to at least June 30.
Extensions include: alternative appraisals on purchase and rate term refinance loans; alternative methods for verifying employment before loan closing; flexibility for borrowers to provide documentation (rather than requiring an inspection) to allow renovation disbursements (draws); and expanding the use of power of attorney and remote online notarizations to assist with loan closings.