FHFA Grants GSEs Loan Processing Flexibility

The Federal Housing Finance Agency today took action to grant additional flexibility to Fannie Mae and Freddie Mac to help expedite loan processing during the pandemic.

FHFA said that the GSEs may: allow desktop appraisals for new construction loans; allow flexibility on demonstrating construction has been completed; allow borrowers to provide documentation instead of an inspection in order to receive renovation disbursements; and expand the use of power of attorney and remote online notarizations