Product Features:
·
The Fannie Mae DU Refi is an initiative under the federal
government's Home Affordable Refinance program
·
Allows borrowers who are current on their existing
mortgage to refinance up to 105% LTV when home values may have declined and/or Mortgage Insurance may not be available
·
Only loans currently owned by Fannie Mae are eligible
for DU Refi Plus
·
DU will determine eligibility for this product
·
MLHL is not required to be the originator or servicer
of the loan being refinanced
Due to MI company restrictions, the initial release will
be limited to loans that do not require Mortgage Insurance. This includes loans with LTV >80% when there is no MI
on the existing loan.
