New Document: Explanation of Loan Terms (POA) (Cx23852)
FNMA and FHLMC have issued temporary amendments to their rules regarding the use of a power of attorney (“POA”) in certain transactions; in particular, they are allowing the attorney-in-fact to be an employee of a party to the transaction, under certain circumstances (albeit the seller in a purchase transaction cannot act as an attorney-in-fact for the borrower)….