Bulletin W13-109 - Launch of Freddie Mac Relief Refinance - Open Access
Topic included in Bulletin W13-109:
- CMS adds the Freddie Mac Relief Refinance Open Access program to product offerings
- Highlights of the program include:
- 30,20 and 15 Year Fixed Rate
- Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, 135% LTV/CLTV with 660 credit score
- Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, 105% LTV/CLTV with 620 credit score
- Non-Owner Occupied loans up to 105% LTV/CLTV with 660 credit score
- Maximum DTI is 50%
- Loans must be submitted through Loan Prospector with a Risk Class of Accept Only
- Maximum cash back to the borrower is $250
- Program Codes and corresponding LTVs are reflected in the pricing engine
- Program available Tuesday, September 3, 2013
- Intranet Updated with matrix and guidelines
Download: Bulletin - W13-109 (PDF)