Fannie Mae Re-Extends Covid-19 Flexibilities

Fannie Mae recently updated two Lender Letters, LL-2021-03 and LL-2021-04, to further extend certain temporary policies related to COVID-19.

LL-2021-03 extends Fannie Mae’s temporary COVID-19 measures related to origination. The update extends the temporary flexibilities related to verbal verifications of employment and powers of attorney, which will continue to be in effect for loans with application dates on or before March 31, 2021. 

Similarly, LL-2021-04 extends Fannie Mae’s temporary COVID-19 measures related to appraisals. These flexibilities are now extended to loans with application dates on or before March 31, 2021.