Fannie Mae RefiNow
GMFS is pleased to offer Fannie Mae’s new refinance now program released in DU version 11.0 this weekend. RefiNow will enable more borrowers to refinance to a lower interest rate and reduce their monthly mortgage payments. In order to qualify for the RefiNow program the borrower must be at or below 80% of the AMI limit. The adverse market refinance fee of 50 bps will be waived for loans with an original principal amount less than or equal to $300,000 for those who qualify for the Refi Now.
RefiNow loans must be identified as such on the DU findings and locked in Optimal Blue as a RefiNow program.