FHFA Extends GSE Forbearance Purchases through Sept. 30; Extends COVID-Related Loan Processing Flexibilities

August 26, 2020

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MBA Newslink--Mike Sorohan

FHFA is extending Fannie Mae and Freddie Mac COVID-19 flexibilities through September 30, including: buying of qualified loans in forbearance; alternative appraisals on purchase and rate term refinance loans; alternative methods for documenting income and verifying employment before loan closing; and expanding the use of power of attorney to assist with closings.

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