MPF Xtra – Impact of COVID-19 on Originations
Effective Date: Immediately (unless otherwise noted)
Fannie Mae issued an update to Lender Letter LL-2021-03, communicating updates to the COVID-19 origination policies previously announced. The policies in the Lender Letter are effective immediately and are effective until Fannie Mae provides further notice, unless otherwise stated.
- Fannie Mae retired the COVID-19 verification of employment and temporary eligibility requirements for purchase and refinance transactions policies as described in the Lender Letter.
- The policy for sale of loans aged six months or less is now permanent policy. This will be incorporated into a future Fannie Mae Selling Guide update.
With this update there are no longer any COVID-19 Origination temporary policies in place, PFIs must follow all standard MPF Xtra Selling Guide policies.
- MPF Announcement 2023-11