NewRez will be aligning with Fannie Mae Lender Letters LL-2020-03 and LL-2020-04 and Freddie Mac Bulletin 2020-27, dated July 9, 2020, in extending the temporary underwriting and appraisal policies previously announced for application dates through August 31, 2020.
NewRez will be aligning with Fannie Mae Lender Letters LL-2020-03 and LL-2020-04 and Freddie Mac Bulletin 2020-27, dated July 9, 2020, in extending the temporary underwriting and appraisal policies previously announced for application dates through August 31, 2020.
Previously Announced Temporary Guidance and Resources
The product profiles will not be updated with the temporary guidelines related to COVID-19 (with the exception of credit score updates). Refer to the following previously issued announcements.
- CF2020-018 COVID-19 Coronavirus Guidance (3/25/20)
- CF2020-023 COVID-19 Coronavirus Guidance-Additional Conforming Updates (4/9/20)
- CF2020-027 COVID-19 Conventional Updates–Property (4/17/20)
- CF2020-036 Conventional Conforming Guideline Clarifications and Updates (5/12/20)
- CF2020-038 Conventional Conforming Temporary Forbearance Guidance (6/3/20)
- CF2020-040 Conforming Forbearance Frequently Asked Questions (FAQ) (6/11/20)
- CF2020-042 Conventional Self-Employed Updates (6/11/20)
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.