New Refinance Test Effective December 8
December 5, 2014
We have updated our Refinance Test with new data. The updated test will be effective for all new loans starting Monday, December 8. Loans in process or under application that rate-lock prior to December 31st may continue to use the August 27, 2014 version of the Refinance Test. All other loans must use the updated version.
This quarter, the changes we’ve made are relatively minor, including updates to interest rate and market forecast data. As a result, the updated Refinance Test will be slightly less restrictive. No parameters were altered.
The Refinance Test results do not necessarily mean that Freddie Mac Multifamily will not purchase the loan, so if a loan does not pass the Refinance Test we encourage you to discuss loan parameters with your underwriter.
Visit the Refinance Test and Resources page on our website for more information.