Quarterly Update to the Multifamily Refinance Test
May 23, 2013
Freddie Mac Multifamily is providing our quarterly update to the Refinance Test, reflecting the quarterly update of market and interest rate information. All parameters and settings remain the same.
New Test Now Available – Required for New Loans
Effective June 1
- The new version of the Refinance Test is required for new deals as of June 1, 2013.
- The current version [dated February 11] of the Refinance Test will continue to apply to all loans that are under application with the Seller/Servicer (money up) and are rate locked by June 28.
- Both versions of the refinance test will remain available until June 28 on our Multifamily Refinance Test page, which is available through a Quick Link on the Originate
& Underwrite page.
Using the Results of the Refinance Test
As always, when a loan does not pass the test, this is simply an indicator for you to discuss the parameters sooner with your underwriter. It does not necessarily mean Freddie Mac will not buy