Fannie Mae announces flexibility with appraisals

Federal Issues Covid-19 Fannie Mae Freddie Mac GSE

On March 23, Fannie Mae issued Lender Letter 2020-04 announcing temporary flexibilities to its appraisal requirements. These include allowing exterior-only or desktop appraisals when an interior appraisal is not feasible because of Covid-19 concerns, subject to specified terms. The letter also announced modified forms, developed jointly with Freddie Mac, to be used with desktop and exterior-only appraisals.