Fannie Mae announces additional details on the High Loan-to-Value (LTV) Refinance Option
At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae recently announced that it will offer a new high loan-to-value (LTV) refinance option designed for Fannie Mae borrowers who are making their mortgage payments on time, but whose LTV ratios exceed the maximum allowed for standard limited cash-out refinance transactions in its Selling Guide. This option will not be available for a number of months, but Fannie Mae today shared additional details with lenders to allow time for any needed operational and system updates. In conjunction with the publication of these details, Fannie Mae is providing a high-level comparison of the High LTV Refinance Option to Fannie Mae’s DU Refi Plus and Refi Plus, including HARP. This comparison is not intended to be comprehensive, but rather provides a brief overview of program features for ease of reference. For comprehensive information, please see the following related links:
Market participants may contact the Fannie Mae Investor Help Line at 1-800-2FANNIE, Option 2, or by e-mail with questions.