Update to the Multifamily Refinance Test
December 2, 2013
Freddie Mac Multifamily is providing our most recent 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 December 2
- The new version of the Refinance Test is required for new deals as of December 2.
- The current version [dated October 14] 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
- Both versions of the refinance test will remain available until December 31 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.
New Resource for Entering Supplemental Loans into the Refinance Test
We now have a new resource available that provides detailed instructions on how to enter supplemental loans into the Refinance Test. See our Entering Supplemental Loans into Refinance Test Tutorial in the Originate & Underwrite Program Plus Resources section of our website.