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Financial Services Law Insights and Observations

FHA issues mortgagee letter extending guidance on employment reverification and appraisals

Federal Issues Covid-19 FHA Appraisal Mortgages

Federal Issues

On June 29, the FHA issued Mortgagee Letter 2020-20, which re-extends the effective date of Mortgagee Letter 2020-05, previously covered here and here. The re-extension of appraisal guidance in Mortgagee letter 2020-05 and of re-verification of employment guidance in Mortgagee Letter 2020-05 are effective immediately for cases closed on or before August 31, 2020.

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