The Federal Housing Finance Agency said in a statement that it would allow alternative appraisals on certain refinance loans, alternative methods for documenting income and verifying employment, and expanded use of power of attorney for loan closings.
WASHINGTON: The US housing finance regulator on Thursday said it was extending temporary loan origination flexibilities until the end of next month amid the ongoing coronavirus pandemic, while other accommodations would likely end.
The Federal Housing Finance Agency said in a statement that it would allow alternative appraisals on certain refinance loans, alternative methods for documenting income and verifying employment, and expanded use of power of attorney for loan closings.
Other flexibilities on employment verification, condominium project reviews and expanded power of attorney would likely end on April 30, it added.
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