Issue: Rules – April 10, 2020

Fannie Mae Updated Lender Letter LL-2020-04 – COVID19 Impact to Appraisals – Condos – Renovation – FAQs

Written by:  Lloyd Rutherford, Staff Writer Rule Synopsis: Fannie Mae published UPDATED directions and guidance for appraisals (LL-2020-4) due to the impact on industries due to COVID-19 and these updates caused the FAQ document to be updated as well. Fannie Mae is using the original Lender Letters and their original FAQ document to update and […]

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Freddie Mac – COVID19 Updates – Condo Projects – Appraisal FAQs – ChoiceRenovation

Written by:  Lloyd Rutherford, Staff Writer Effective Immediately with all loans in Process! Rule Synopsis: Freddie Mac issued another Bulletin (2019-11) related to the COVID-19 related issues and they also updated their FAQ document to add additional questions that have cropped up due to the pandemic. Freddie Mac is taking a different approach than Fannie […]

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USDA Covid-19 Guideline Updates – Appraisals – Repair Inspections & Employment Verification

USDA posted an announcement on April 8th 2020 addressing flexibility and guidance during the Covid-19 pandemic. The announcement is addressing similar issues to the other agencies such as appraisals and employment verifications, so just like the other agency announcements we recommend that you review them in their entirety if these programs are a large part […]

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What Was Added? What Was Changed on Mortgage Currentcy This Month?

In each Rules Issue, we post “What was Added and What Was Changed!”  This helps our subscribers stay up to date on all of the additions to the site as well as changes to our charts, checklist, and MTPs that are changed each month, due to guideline updates. Due to the Covid-19 Pandemic, there are […]

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Fannie Mae Updated FAQs for COVID-19 Impact – Dated April 8, 2020 & FNMA publishes DU/DO Release Notes Dated April 6, 2020

Written by: Lloyd Rutherford, Staff Writer There are more and evolving updates from Fannie Mae as we navigate through the COVID-19 pandemic.  All conventional lenders need to read through this update! Rule Synopsis: Fannie Mae updates the FAQ document for questions related to the COVID-19 impact to the business and also released an April update […]

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