May borrowers obtain the refinance flexibilities only through their existing servicer or do they have the option to use another lender?
Fannie Mae has a refinancing option for each scenario depending on the borrower’s situation and preference. Manually underwritten Refi Plus loans are limited to originations by the current servicer of the existing loan. DU Refi Plus may be originated by any lender selected by the borrower, including the existing servicer, because DU will automatically determine whether Fannie Mae is the investor on the existing loan, regardless of the lender entering the loan casefile.
Related Questions
- Does Home Affordable Refinance provide opportunities for borrowers with existing Alt-A or subprime loans to refinance into more favorable terms?
- How do I access HVE to obtain the value of the property for the Relief Refinance Mortgage – Same Servicer?
- How do I refinance an existing margin loan from another margin lender?
