COVID-19 underwriting flexibilities: What’s changing?
Over the past 14 months, there have been numerous announcements made jointly by Fannie Mae and Freddie Mac regarding file documentation and evaluation during the COVID-19 pandemic. Recently we’ve started to see these flexibilities shifting back, but some are not and will remain in place until further notice. Let’s hear from MGIC’s National Trainer, Rebecca Chase, on what's changing and what’s not.
- What are we referencing when we refer to "flexibilities?" (0:53)
- What is reverting to standard guidelines? (1:34)
- What flexibilities implemented during the COVID-19 pandemic are still in place until further notice? (3:15)
- Since it's difficult to keep the AUS message current, what's the best way to keep it all straight? (5:26)
The opinions and insights expressed in this Q&A are solely those of its interviewee and do not necessarily represent the views of either Mortgage Guaranty Insurance Corporation or any of its parent, affiliates, or subsidiaries (collectively, “MGIC”). Neither MGIC nor any of its officers, directors, employees or agents makes any representations or warranties of any kind regarding the soundness, reliability, accuracy or completeness of any opinion, insight, recommendation, data, or other information contained in this blog, or its suitability for any intended purpose.