Removing Barriers Blog

Some FHFA Lending Flexibilities Extended For The Last Time, Others Expire This Month
Posted April 21, 2021 by CUNA Advocacy

The FHFA has announced that some COVID-related lending flexibilities set to expire on April 30, 2021 have been extended through May 31, 2021. Extended flexibilities include alternative appraisals on purchase and rate-term refinance loans. The FHFA also stated that this extension will likely be the final one. Flexibilities related to employment verification, condominium project reviews, and expanded powers of attorney will be allowed to expire on April 30, 2021. The FHFA stated that these flexibilities have had low usage, which is prompting it to allow them to expire.