Fannie Mae addresses Covid-19 impact

Federal Issues Fannie Mae Covid-19

On March 16, Fannie Mae (FNMA) published a statement on its website addressing its internal business continuity and the procedures it has established to deal with the effects of Covid-19. The statement mentions that FNMA maintains an infectious disease plan and a crisis management team. It also provides assurances that FNMA is observing business continuity plans and following guidance from the Centers for Disease Control and Prevention, as well as taking measures to protect employees, including through remote work and social distancing. Additionally, FNMA sets forth a number of procedures established to deal with the impacts of Covid-19, including “[c]ommunicating with Single-Family lender customers about existing policies that outline options for potentially impacted borrowers.”