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Replies (5)
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
It was only a matter of time.
- Barry Dalton, "Barry Dalton"
- Contributions:492
This is very similar to the "Streamline Refi" policies for some investors who offer reduced documentation on "Fannie to Fannie" or "Freddie to Freddie" transactions which they still currently service. I see this as positive for many current home owners. If some of the same mortgage insurance criteria is applied to this version as the previously mentioned investor streamline- you cannot reduce existing MI coverage. Investors may run an AVM and apply a percentage tolerance in order to use previous appraisal or waiver. On the expanded with lower FICO's - I expect the investor will have pricing adjustments which will probably make them seem very expensive in todays current rate environment.
- Patrick Ignacio, "patrick ignacio"
- Contributions:322
with anything in the financial industry, all these new and alternative options will be at a high price.
so far, i tried a few through the FNMA to FNMA streamlined, and there is no advantage in pricing at all.
so far, i tried a few through the FNMA to FNMA streamlined, and there is no advantage in pricing at all.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
I agree with you Barry. Everyone made a rush to judgement and got rid of so many great programs, when in reality, all they need to do was tweak them.
- Barry Dalton, "Barry Dalton"
- Contributions:492
Maybe Fannie Mae will offer different (lower) LLPA's for this Fannie to Fannie refinance. With the appraisal waiver, streamline documentation and more favorable pricing, we could see more consumers benefit from a refinance and have faster processing and underwriting turn times:-)
It should be an interesting spring with potential purchase tax incentives along with streamline refi guides from Fannie.
It should be an interesting spring with potential purchase tax incentives along with streamline refi guides from Fannie.
Subprime and reduced doc are back...more attempted stimulus
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- 4.7/5.0
- (9 reviews)
Contributions:3523Linky
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