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Updates to Freddie Mac's New High LTV Refinance Offering

August 17, 2017

Last year, the Federal Housing Finance Agency (FHFA) directed Freddie Mac and Fannie Mae (the GSEs) to develop a new high loan-to-value (LTV) refinance offering to be available once the Home Affordable Refinance Program® (HARP) expires. Today, FHFA announced updates to our new high LTV refinance offering – Freddie Mac Enhanced Relief RefinanceSM. Enhanced Relief Refinance will be effective for mortgages with applications received in late 2018. The mortgage being refinanced must have a note date on or after October 1, 2017. The complete requirements for Enhanced Relief Refinance will be announced via a Single-Family Seller/Servicer Guide Bulletin in September.

HARP Extended Through 2018

FHFA also directed the GSEs to extend their implementation of HARP to 2018. To ensure you can continue to offer refinancing opportunities to borrowers with mortgages with high LTV ratios until the new offering is available, we will purchase Freddie Mac Relief RefinanceSM – Same Servicer and Open Access mortgages with application received dates on or before December 31, 2018, and Freddie Mac settlement dates on or before September 30, 2019.

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