Lender Letter (LL-2021-03)
Updated: Feb. 15, 2023
To: All Fannie Mae Single-Family Sellers
Impact of COVID-19 on Originations
The policy for sale of loans aged six months or less is now permanent policy. This will be incorporated into the Selling Guide in a future update. Effective immediately, we are retiring the verification of employment and temporary eligibility requirements for purchase and refinance transactions policies. All standard Selling Guide policies now apply.
- Sale of loans aged six months or less. These policies became effective on May 5, 2020 and are effective until further notice.
- Verification of self-employment. These policies became effective for loans with application dates on or after Apr. 14, 2020 and were retired on Feb. 15, 2023.
- Temporary eligibility requirements for purchase and refinance transactions. These policies became effective for loans with application dates on or after Jun. 2, 2020 and were retired on Feb. 15, 2023.
For a description of previous updates refer to the Summary of COVID-19 Selling Policies Job Aid and the Lender Letter Change Control Log.