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C.A.R. Statement on FHFA Appraisal and Income Verification Flexibility

Published Monday, March 23, 2020

LOS ANGELES (March 23) – In an effort to provide market liquidity during the coronavirus emergency, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements through May 17, 2020.​

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the FHFA’s announcement:

“C.A.R. thanks the FHFA for taking these bold steps as California and the nation face this unprecedented crisis. This will help the many homebuyers in the middle of a transaction who were caught off guard when their transactions were stalled,” said C.A.R. President Jeanne Radsick. 

“The flexibility that the FHFA’s move will provide to buyers and lenders so they can continue the homebuying process is important to keeping California’s real estate market moving during this national emergency.” 

Leading the way... ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
 

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