Extension of Agency Temporary Guidelines
NewRez will be aligning with Fannie Mae Lender Letters LL-2021-04 and Freddie Mac Bulletin 2021-15, dated April 21, 2021, in extending the temporary appraisal policies previously announced for application dates through May 31, 2021.
This will be the final extension date for the temporary policies related to Appraisals. Applications dated June 1, 2021and later will be subject to Standard Selling Guide policies.
As a reminder, verbal verifications of employment and condominium project review flexibilities will not be extended for applications beyond April 30, 2021.
All COVID Flexibilities and Restrictions are notated in blue in the Underwriting Guide.
For additional information, below are links to Fannie Mae and Freddie Mac Frequently Asked Questions
Remember that NewRez is not adopting all flexibilities in the Fannie Mae and Freddie Mac announcements, therefore some guidelines in their announcements and FAQ may not apply.