On March 11, 2021 FNMA revised LL-2021-03 (their “master letter” covering temporary requirements to, and flexibilities for, origination processes, due to the COVID-19 Pandemic) and announced the following:
“Extend the application dates for verbal verifications of employment and power of attorney flexibilities to Apr. 30, 2021. This will be the final extension for these policies. Applications dated May 1, 2021 and later will be subject to standard Selling Guide policies.”
FHLMC also announced in Bulletin 2021-10 that they will not be extending, past April 30, 2021, some of the temporary flexibilities they allowed due to the COVID-19 Pandemic
We are currently reviewing this announcement to determine any impact, and evaluating any modifications, to our document library and/or systems. Any modifications we make as a result will be announced on our website (https://compliance.docutech.com/).