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Fannie Mae’s Refi Plus initiative offers refinancing flexibility to eligible borrowers who are current on their loans and whose loans are owned or guaranteed by the company and meet certain additional criteria.
DU Refi, (DU) Refi Plus is a new program designed to reignite the mortgage industry by streamlining the refinance process. The less-stringent criteria will include lower acceptable credit scores, reduced income documentation, as well as waiving the requirement for appraisals in certain scenarios.
Fannie Mae’s automated mortgage loan underwriting system Desktop Underwriter® (DU®) helps lenders efficiently complete credit risk assessments to establish a home loan’s eligibility for sale and delivery to Fannie Mae with easy-to-use, powerful tools.
The Refi PlusTM/Home Affordable Refinance Program (HARP) helps borrowers with little or no equity in their homes refinance into more affordable mortgages. HARP targets borrowers with high loan-to-value (LTV) ratios and who have limited delinquencies over the 12 months before refinancing.
HARP Refinancing with Fannie Mae's DU Refi Plus. Fannie Mae has a manual Refi Plus and an automated DU Refi Plus system for your HARP mortgage. Only your original lender can do a manual Refi Plus. Any participating DU lender can process your DU Refi Plus application.
31 sie 2023 · While Fannie Mae’s DU Refi Plus program may be a relic of the past, understanding its features vis-à-vis the High-LTV Refinance can offer insights. The DU Refi Plus was also designed to help borrowers with high LTV ratios, but its specific terms, advantages, and limitations differed.
Fannie Mae Refi Plus (also known as Fannie Mae Refinance Plus and FNMA du Refi Plus) is the HARP or Home Affordable Refinance Program offered through Fannie Mae, or the Federal National Mortgage Association.
