Quarterly Update to the Multifamily Refinance Test
August 29, 2013
Freddie Mac Multifamily is providing our quarterly update to the Refinance Test, reflecting the quarterly update of market and interest rate information.
New Test Now Available – Required for New Loans
Effective September 3
- The new version of the Refinance Test is required for new deals as of September 3, 2013.
- The current version [dated May 23] 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 September 30.
- Both versions of the refinance test will remain available until September 30 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 the loan.