Relief Refinance Mortgages
Supporting Sustainable Homeownership Through the Making Home Affordable Program
The Freddie Mac Relief Refinance MortgageSM provides broad market availability with two options that help borrowers who are making timely mortgage payments but have been unable to refinance due to declining property values.
Both the Same Servicer and Open Access options under the Relief Refinance Mortgage offering allow unlimited loan-to-value (LTV) ratios for fixed-rate mortgages, and relief from standard mortgage insurance requirements to provide qualified borrowers with expanded refinancing opportunities.
A portion of our Relief Refinance Mortgage offering, mortgages with LTV ratios greater than 80 percent, represents our business implementation of the Home Affordable Refinance Program (HARP).
Relief Refinance Mortgage – Same Servicer offers simplified appraisal and borrower eligibility requirements.The mortgage being refinanced must be serviced by the Seller, or an Affiliate of the Seller and the Relief Refinance Mortgages must be originated by the Seller/Servicer or an Affiliate of the Seller.
- Relief Refinance Mortgage – Open Access requires full underwriting by submitting mortgages for assessment through Loan Prospector®, offers simplified appraisal requirements, and may be originated by any Freddie Mac-approved Seller/Servicer. The mortgage being refinanced may be serviced by any Freddie Mac-approved Seller/Servicer.
Through these two refinancing options more borrowers will have options to refinance into mortgages that better position them for a successful long-term homeownership experience.
Complete requirements for Relief Refinance Mortgages – Same Servicer can be found in our Single-Family Seller/Servicer Guide (Guide) Chapter A24. Requirements for the Relief Refinance Mortgages – Open Access are outlined in Guide Chapter B24. Additional resources for Relief Refinance Mortgages and the Making Home Affordable Program are provided below.
- November 15 Guide Bulletin 2013-23
- September 24 Guide Bulletin 2013-18
- July 18 Guide Bulletin 2013-13
- January 31 Guide Bulletin 2013-2
- September 14 Guide Bulletin 2012-19
- May 15 Guide Bulletin 2012-11
- January 5 Guide Bulletin 2012-1
- November 15 Guide Bulletin 2011-22
- June 15 Guide Bulletin 2010-13
- March 2 Guide Bulletin 2010-6
- October 9 Guide Bulletin 2009-24
Training & Education
Take advantage of Relief Refinance Mortgage training opportunities and educational resources in our Learning Center, including:
- Relief Refinance Mortgage Webinar
- Freddie Mac Relief Refinance Mortgages - OPEN ACCESS Eligibility Requirements
- Freddie Mac Relief Refinance Mortgages - Same Servicer Eligibility Requirements (For Mortgages with Application Received Dates on or after November 19, 2012)
- Freddie Mac Relief Refinance Mortgages - Same Servicer Eligibility Requirements (For Mortgages with Application Received Dates prior to November 19, 2012)
- Freddie Mac Relief Refinance Mortgages Income and Asset Documentation Requirements