Sell Your Fixed-rate Cash Relief Refinance Mortgages – Same Servicer with any LTV
January 30, 2012
Beginning February 1, 2012, Sellers can start delivering fixed-rate Freddie Mac Relief Refinance MortgagesSM – Same Servicer with loan-to-value (LTV) ratios above 125 percent using a Cash execution.
As announced in Single-Family Seller/Servicer Guide Bulletin 2011-22, the 125 percent LTV ratio limit for Relief Refinance Mortgages will be removed, and fixed-rate Relief Refinance Mortgages with LTV ratios greater than 125 percent will be eligible for sale under both Cash and Guarantor. Sellers may begin delivering Relief Refinance Mortgages with LTV ratios over 125 percent for Cash and Guarantor executions effective as of the following dates:
- February 1, 2012 – Fixed-rate Cash for Relief Refinance Mortgages – Same Servicer
- March 15, 2012 – Fixed-rate Cash for Relief Refinance Mortgages – Open Access
- June 1, 2012 – Fixed-rate Guarantor for Relief Refinance Mortgages – Same Servicer and Relief Refinance Mortgages – Open Access
The elimination of the maximum LTV ratio, and the availability of Cash and Guarantor execution options are flexibilities that support the expanded Home Affordable Refinance Program. With these Relief Refinance Mortgage enhancements, you’ll have greater opportunities to reach more borrowers, including those who, because of declining property values, have not been able to take advantage of today’s low interest rates.
To help you become familiar with all the flexibilities of our expanded Relief Refinance Mortgage offering:
- Review Guide Bulletin 2011-22 and Bulletin 2012-1.
- Visit our Relief Refinance Mortgage Web page and take advantage of updated resources.
- Register for an upcoming Freddie Mac Relief Refinance Mortgage webinar.
- Call your Freddie Mac representative.