The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to provide alternative employment verification on loans the agencies service through May 17. The guidance is in response to the COVID-19 outbreak.

If lenders cannot obtain verbal verification of a borrower’s employment before a loan closing, they will allow lenders to obtain verification via an email from the employer, a recent year-to-date pay stub from the borrower, or a bank statement showing a recent payroll deposit.