There is no better way to see how it is affected in 2020 than to take a look at profit and loss statements year to date and the last two months of bank statements. What they want to see is how your business is affected by the pandemic. The guideline states that self-employed borrowers as of June 11th, 2020 need to provide a 2020 profit and loss and two months of bank statements from that business. This change in the federal guideline is just temporary for any lender who is selling to Fannie Mae or Freddie Mac has to abide by this and it is not lender specific.
