HARPing on Fannie Mae, Freddie Mac Refinancing

The Fannie Mae High Loan-to-Value Refinance Option. The Freddie Mac Enhanced Relief Refinance. Both refinance options are meant for borrowers with high loan-to-value ratios (calculate your LTV.

You may have heard the names Fannie Mae and Freddie Mac in the news and wondered what they are. They are government-sponsored enterprises that play a significant role in the mortgage industry. Both Fannie and Freddie buy mortgages from lenders, pool them together and sell them as mortgage-backed securities to investors.

Fannie Mae and Freddie Mac serve key roles in the U.S. housing market. Together, they guarantee about half of the country’s.

FHFA established the Suspended Counterparty Program (SCP) to help address the risk to Fannie Mae, Freddie Mac, and the Federal home loan banks presented by individuals and entities with a history of fraud or other financial misconduct.

The Home Affordable Refinance Program 2.0 (HARP 2.0) is designed to assist. Q: How do I know if my loan is owned by Fannie Mae or Freddie Mac?

The refinance mortgage must meet Fannie Mae’s eligibility criteria for mortgages that are subject to subordinate financing. New Subordinate Financing. When a borrower obtains new subordinate financing with the refinancing of a first mortgage loan, Fannie Mae treats the transaction as a limited.

The freddie mac enhanced relief refinance mortgage provides opportunities to borrowers with existing Freddie Mac mortgages who are making timely payments, but are unable to take advantage of the standard Freddie Mac "no cash-out" refinance offering because the new mortgage exceeds maximum loan-to-value (LTV) limits.

If you are buying a home or refinancing your existing mortgage, you know that the appraisal process can sometimes lead to complications. Fannie Mae and Freddie Mac seem to be so confident in the housing market that they are willing to waive some of the appraisal requirements.

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Were Fannie Mae and Freddie Mac the real cause of the subprime mortgage crisis? It’s dangerous to think so. That’s because they were a prime example of the broader economic forces that caused the banking credit crisis and bailout.Legislative attempts to rapidly wind down Fannie and Freddie would not prevent another recession.