Fannie Mae Removes Minimum Credit Score Requirement for RefiNow

Today, Fannie Mae updated its Lender Letter LL-2021-10, Introduction of the RefiNow™ Option, communicating to its single-family sellers the removal of the minimum representative credit score requirement of 620. While no minimum credit score is required, each borrower must have a credit score and it must be provided at loan delivery.

This update will apply to manually underwritten loans and DU Version 11.0 loan casefiles submitted or resubmitted on or after the weekend of April 23, 2022.

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.