Refinance process with coronavirus locksown

[Fatima Tanveer]

Hi fellow investors,

Hope everyone is safe and sound in these difficult times. We have a locksown in Chicagoland like many other places.

I want to get some feedback on other members that have closed on a refinance recently as we are looking to do so for our primary residence.

Have the lelders switched to using drive-by or paper based appraisals in locked down areas?

Are remote notaries being used for closings?

I read that Fannie and Freddie have recommended or allowed modified appraisal and closings to account for locksown but I am not sure what is actually happening on ground.

We are looking for a conforming refinance on primary residence with 20% down. I am expecting a 45 day process. Has the timeline expectation changed significantly because of the locksown and modified procedures?

Thanks in advance for your feedback and stay safe!