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7 sie 2019 · August 7, 2019. The Selling Guide has been updated to include changes to the following: Lender Quality Control Processes. Construction-to-Permanent Financing for Manufactured Homes. Removal of DU Refi PlusTM / Refi PlusTM References. Appraisal Waiver Eligibility. Miscellaneous Selling Guide Updates.
5 maj 2021 · May 5, 2021. Updated Aug. 2, 2021. During the weekend of June 5, 2021, Fannie Mae will implement an update to Desktop Underwriter® (DU®) Version 11.0, which will include the implementation of the RefiNowTM refinance option.
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.
If a PIW is not granted by DU, an appraisal will be required per DU. The appraisal must be ordered as detailed in the Appraisal Management Companies topic below.
The Eligibility Matrix shows the LTV, CLTV, HCLTV, credit score, and DTI requirements for different types of conventional mortgages eligible for delivery to Fannie Mae. It also includes exceptions and notes for certain transactions, such as DU Refi Plus and Refi Plus.
• If an estimated value is received from DU, the loan must be re-submitted to DU using the estimated value (an AVM or 2055 is not allowed in lieu of re-submitting the loan with the estimated value).
Any condo may not be a condo hotel or motel, condo co-op hotel or motel, houseboat project, or a timeshare or segmented ownership project. Confirmation of hazard, flood, liability, and fidelity insurance coverage is required. DU Refi Plus condos must use Project Type V (property in a condo project).
