Fannie Mae Extends Temporary Policies Related to COVID-19

On August 27, 2020, Fannie Mae updated several Lender Letters, LL-2020-03, LL-2020-04, and LL-2020-06, to its single-family sellers communicating temporary policies in response to the COVID-19 national emergency.

• LL-2020-03, Impact of COVID-19 on Originations, has been updated to extend the temporary policies regarding originations to loans with application dates on or before September 30, 2020.
• LL-2020-04, Impact of COVID-19 on Appraisals, has been updated to extend the temporary appraisal flexibilities to loan with application dates on or before September 30, 2020.
• LL-2020-06, Guidance to Single-Family Sellers Selling Loans in Forbearance Due to COVID-19, has been updated to extend eligible note dates to September 30, 2020, and delivery to November 30, 2020, for sales of loans in forbearance due to the COVID-19 pandemic. 

We previously reported on the guidance provided in LL-2020-03 and LL-2020-04 here. We also previously reported on LL-2020-06 here.