Do the “de minimis” pooling limits apply to the MBS pool prefix for Refi Plus loans with LTVs above 105 percent up to 125 percent (prefix CQ)?
No. The pooling limits that apply to TBA-eligible prefixes (e.g., CI and CL) in terms of nonstandard characteristics (high-balance loans, loans with significant interest rate buydowns, loans on cooperative share properties, and restricted relocation loans) do not apply to the new CQ prefix. The Making Home Affordable Program offers loan modifications as a companion to the refinance initiative. How should borrowers and lenders determine whether a refinance or modification is best for the borrower’s situation? Home Affordable Refinance addresses the problem faced by millions of homeowners who have been unable to take advantage of low mortgage rates to refinance because their property value has fallen. The loan modification program is intended to prevent foreclosure for borrowers in default or in imminent danger of default, and has clear guidelines regarding qualification and terms. The Refi Plus options are intended for borrowers who 1) are not having difficulty making their monthly paym
