Relax, all lending rules are relaxed

Answered by:

Question:

Examiners keep saying to assist our customers. We recognize the immediate need and want to help. It’s obvious we can help, and the rules are relaxed now, so what can’t we do?

Answer:

You can’t violate a law such as by modifying or extending a mortgage loan in an SFHA without meeting flood requirements. Consumer protection laws remain in effect. The harder answer is what can you do? You can do a little more that you were doing a few months ago, and faster, but the rules still stand.

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Learn more about John Burnett and Andy Zavoina’s webinar Working with COVID-19 Customers