Fannie Mae, Freddie Mac relax appraisal, employment verification standards in wake of coronavirus- Will allow drive-by and desktop appraisals in certain circumstances

Fannie Mae, Freddie Mac relax appraisal, employment verification standards in wake of coronavirus- Will allow drive-by and desktop appraisals in certain circumstances

During this COVID-19 national emergency, in many cases lenders are unable to obtain an appraisal based on a full interior and exterior inspection of the subject property. In response, we are allowing temporary flexibilities to our appraisal requirements. We are...