Fannie Mae updated Lender Letter LL-2021-03: Impact of COVID-19 on Origination to remove the suspension of bulk acquisitions, and update the allowable delivery time for HomeStyle Renovation loans. Per the updated Lender Letter, Fannie Mae removed the suspension of bulk acquisitions and will now consider bulk transactions on a limited basis. Fannie Mae also updated the allowable delivery timeframe for HomeStyle Renovation loans to align with the 15-month time period permitted in the Selling Guide for completion of the renovation. The updated Lender Letter is effective July 6, 2022.
Click to view the Fannie Mae Update to Lender Letter LL-2021-03: https://www.tenaco.com/wp-content/uploads/2022/07/Fannie-Mae-Update-to-Lender-Letter-LL-2021-03-07-06-22.pdf
