81 81
INVESTMENT GOVERNMENT PROPERTY PRESERVATION TECH
FHFA ANNOUNCES
EXTENSION
FOR BUYING
QUALIFIED LOANS
IN FORBEARANCE
e Federal Housing Finance Agency
(FHFA) announced that Fannie Mae and
Freddie Mac will extend buying qualified
loans in forbearance as well as several loan
origination flexibilities.
To support homeowners and mortgage
lenders, the agency approved a continued
extension of a temporary policy allowing for
the purchase of certain single-family mortgages
in forbearance, in circumstances that meet
specific eligibility criteria set by Fannie Mae
and Freddie Mac. e policy, formerly extended
for loans originated through August 31, now is
extended through September 30.
e GSEs also will continue to extend
several loan origination flexibilities, first set
to expire in a few days, until September 30.
Said flexibilities include 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 and
remote online notarizations to assist with loan
closings.
"Extending these COVID-19 flexibilities
helps keep the mortgage market moving and
borrowers safe during the pandemic," Director
Mark Calabria said.
Journal
