Fannie Mae, Freddie Mac to Extend Covid-19 Loan Flexibilities

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Fannie Mae and Freddie Mac will extend several loan origination flexibilities related to Covid-19 by a month to Dec. 31, the Federal Housing Finance Agency said.

The flexibilities include alternative appraisals on purchase and rate term refinance loans, and alternative methods for documenting income and verifying employment before loan closing, it said in a statement late Friday.

“The changes are to ensure continued support for borrowers during the COVID-19 national emergency,” it said.

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