On 10/19/2020, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac were extending through November 30, 2020 several loan origination flexibilities. These flexibilities were set to expire on 10/31/2020 and 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 to assist with loan closings.

The full FHFA release can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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