The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac have extended COVID-19 relief provisions to Feb. 28, 2021.
They were previously set to expire Jan. 31.
As before, extended flexibilities relate to 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.
Other than the date extensions, no other substantive changes were made to the relief policies.