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6 kwi 2022 · In coordination with Freddie Mac and under the guidance of FHFA, Fannie Mae introduced the RefiNow refinance option that provides expanded eligibility to benefit borrowers at or below 100% of the area median income (AMI) limit and helps more borrowers take advantage of the current lower interest rate environment. RefiNow requirements
Freddie Mac uses the Loan Prospector (LU) system and Fannie Mae the Desktop Underwriter (DU) system. Fannie Mae uses the tradename Refi Plus to process the loans under the HARP program, differentiating between the manual Refi Plus and the automated DU Refi Plus.
“Freddie Mac and Fannie Mae have adopted a new refinance option for loans to borrowers with incomes at or below 100% of Area Median Income and you may be eligible to take advantage of this program.
16 cze 2021 · Refi Possible will make it easier for your eligible lower-income borrowers with Freddie Mac-owned mortgages who may think they have missed the opportunity to refinance and take advantage of lower interest rates.
30 sie 2021 · On August 30, 2021, we've made available Freddie Mac Refi Possible℠ to lenders to begin submitting loan applications using Loan Product Advisor or by manually underwriting. Read our quick steps on getting you started to engage with your eligible clients and successful submit Refi Possible loans.
30 sie 2021 · This Bulletin introduces Refi Possible℠, a new “no cash-out” refinance Mortgage option that provides flexibility and product enhancements to support refinances for Borrowers at or below 80% of the AMI.
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.
