Fannie Mae and Freddie Mac Provide Further Appraisal Relief Due to COVID-19
Both the Fannie Mae and Freddie Mac appraisal relief announcements apply to purchase transactions involving new construction, and Freddie Mac also addresses appraisal relief for GREENChoice MortgagesSM. Freddie Mac notes that the relief does not apply to CHOICERenovationSM Mortgages.
Fannie Mae also addresses inspection relief for HomeStyle® Renovation Loans, but notes that the appraisal relief does not apply to the loans.
Copyright © 2020 by Ballard Spahr LLP.
(No claim to original U.S. government material.)
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.
This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.