Posted To: MBS Commentary

Hit the comment section of this same article on Mortgage News Daily ( HERE ) if we're missing anything and we'll get it updated to keep this as an up-to-date list of COVID-related changes to underwriting guidelines, forbearances, etc. The changes come at the direction of FHFA and are thus substantially similar for both agencies. To keep things simple, we're listing one bullet point for both agencies. Click on the agency link to see specific details directly from the agency. Underwriting Guideline Changes ( Fannie | Freddie ) VERIFICATION OF EMPLOYMENT (VOE) can be complete via email, paystub, or bank statement APPRAISALS may be "desktop appraisals" or "exterior only" if there is sufficient property info available. Lenders encouraged to accept appraisal waivers…(read more)

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Source: Mortgage News Daily