August 25, 2016
Statement on Streamlined Refinance Option for High Loan-to-Value Borrowers from Andrew Bon Salle, Fannie Mae Executive Vice President, Single-Family BusinessPete Bakel
202-752-2034
We are pleased to move forward with a new streamlined refinance option scheduled for October 2017. Aimed at borrowers with high loan-to-value (LTV) ratios, the new option builds on the successes of the Home Affordable Refinance Program (HARP) and will provide sustainable refinance opportunities to borrowers with existing Fannie Mae mortgages who are making their mortgage payments on time. At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae will continue to offer HARP through September 30, 2017 to ensure that eligible borrowers can take advantage of the existing HARP program. We look forward to working with FHFA and Freddie Mac to provide needed liquidity so eligible homeowners can take advantage of low interest rates and refinance into more affordable mortgages.
Fannie Mae - Federal National Mortgage Association published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 17:44:01 UTC.
Original documenthttp://www.fanniemae.com/portal/about-us/media/statements/2016/statement-bonsalle-082516.html
Public permalinkhttp://www.publicnow.com/view/0461FD3DA81652102AF03263D0C247CA63C9B6D1