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Looking for a HARP 2.0 lender working with PMI and a LTV greater than 125%

I've had three lenders tell me they can't help me and one specifically said that Fannie Mae's automated underwriting system gave my property an Expanded Approval finding.  My credit is very good, I've never been late but cannot refinance.  Does anyone know of a lender that successfully refinanced their property that is licensed in Maryland?  The property has about $305k left on the mortgage and it is valued in the low $200k range.
  • May 31 2012 - Frederick
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Answers (10)

Best Answer

If Fannie Mae's automated findings give you an appraisal waiver, then you can go to CMG Mortgage with aa LTV over 125% and a Expanded Approval Finding.

You can also try Mortgage Solutions Financial.

 

  • May 31 2012
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Matt what are Extended Approvals?

  • September 24 2012
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  • September 24 2012
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I'm in a similar situation here in Michigan - I've been shot down 8 ways to Sunday trying to qualify for a HARP 2 Refi because of PMI on the original loan and an LTV over 125% (owe $101K on a home valued at approx. $40K). Seterus is my servicer, who refer to Quicken, who have an LTV cap lower than can qualify for. Are there any answers for this dilemma or am I just plain out of luck in this effort?
  • July 02 2012
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I am in a similar situation here in Michigan - I've been shot down 8 ways to Sunday trying to apply for a Harp 2 Refi because of PMI on the original loan and being over 125% LTV. Seterus is my servicer, who refer to Quicken who have a lower LTV cap than what I qualify for (owe $101,000 on a home valued at approx. $40k).  Are there any answers to this dilemma or am I just plain out of luck?
  • July 02 2012
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If your loan happens to currently be with PNC, I'd recommend you contact me directly.  Otherwise, reach out directly to whoever is servicing your loan. 
  • June 01 2012
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user1419910,

As a FNMA direct lender we do not need an appraisal waiver to exceed 125% with Expanded Approval findings.  If you do not receive an appraisal waiver from CMG or would like a second opinion I'd be glad to take a look.  feel free to contact me through me profile.
  • June 01 2012
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Thanks for all of the responses.  I contacted CMG Financial per Brian's suggestion and so far so good, looks like I can be approved!
  • May 31 2012
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Call the lender that has your loan now.

HARP(2) has no LTV limit.
  • May 31 2012
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HARP 2 with virtually no LTV limits.
  • May 31 2012
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