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  3. SEC-14-012

Ex. SEC-14-012 Order Primary source read

Lender Letter LL-2020-04 (Mar. 23, 2020; updated through Dec. 10, 2020)

Impact of COVID-19 on Appraisals

Fannie Mae (under FHFA conservatorship direction) · United States (Federal)

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The COVID Project

The record

Jurisdiction
United States
Level
Federal
Authority
Fannie Mae Selling Guide; FHFA direction of Mar. 23, 2020
Issued
2020-03-23 Mar. 23, 2020
Effective
2020-03-23 (first issue; version history moved here] (read as 2020-03-23)
End
2021-05-31 (flexibilities not extended thereafter) (read as 2021-05-31)
In force
Mar. 23, 2020 to May 31, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q2
Limitation types
Other
Addressees
  • Fannie Mae sellers and servicers; appraisers
Functions reached
  • AP
  • CL
  • CB lenders
Collection
Real Estate SEC-14

Operative words

Temporary appraisal requirement flexibilities: allowing exterior-only inspection appraisals or desktop appraisals... Extension of effective date: extending the application dates eligible for these temporary flexibilities to Jan. 31, 2021

Enforcement

Selling Guide contractual requirements; loans ineligible without compliance

Notes

Freddie Mac Bulletin 2020-5 (Mar. 23, 2020) is the parallel instrument (cite by name)

Retrieval note

Version on file is the Dec. 10, 2020 update; the Apr. 2021 update extending to May 31, 2021 is verified_secondary.

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.