ecomonics, NAIBRS News|

May 2020, Newsletter

We’re concerned for the health and well-being of our employees, customers, and communities, and we urge everyone to take precautions to protect themselves. We are actively monitoring the current situation and taking every step to help ensure a safe and sound housing market. Continuing to fulfill our mission is our priority.

Fannie Mae is fully operational and open for business. Our ability to serve our customers and support the market is paramount.

We will continue to support our customers by:

  • Remaining focused on our mission to provide liquidity to the market.
  • Keeping our Capital Markets desks open and trading mortgage-backed securities (MBS).
  • Supporting customers as they manage their pipeline — from hedging to funding loans — to minimize risk in this volatile market.
  • Fannie Mae will stay in constant communication with the Federal Housing Finance Agency (FHFA) to address any potential impacts to our employees and business operations. We will continue to take immediate action based on our business continuity plans and guidance and risk assessments from the CDC and local health agencies.

Recognizing the unprecedented situation, Fannie Mae has issued flexibilities and guidance on a variety of impacted components of the mortgage process:

  • Originating & Underwriting flexibilities
  • Appraisal flexibilities
  • Guidance on Selling Loans in Forbearance
  • Guidance on Remote Ink-Signed Notarization
  • Loan Servicing flexibilities
  • Forbearance options for impacted borrowers

Information on Fannie Mae’s response can be found here:

https://www.fanniemae.com/portal/covid-19.html

We will continue to monitor the situation and address issues as they arise.

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