Freddie Mac issued Bulletin 2020-5: Selling Guidance Related to COVID-19 (Bulletin). The Bulletin sets forth temporary guidance related to credit underwriting and property valuation requirements, and automated collateral eligibility. The Bulletin also provides reminders regarding electronic records and signatures, title insurance, and seller/servicer business continuity plans. In addition, the bulletin announced the extension of certain annual reporting deadline requirements.
The temporary guidance and related extensions are effective immediately for all loans in process, and remain in place for mortgage loans with application received dates on or before May 17, 2020.
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