Updates to Refi Plus and DU Refi Plus Announced Today

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MBS News and Announcements

Updates to Refi Plus™ and DU Refi Plus™ Announced Today

Today, September 14, 2012, Fannie Mae published Selling Guide announcement 2012-09, Updates to Refi Plus™ and DU Refi Plus™. The announcement includes a number of enhancements to the underwriting and documentation policies for Refi Plus (manual only) and DU Refi Plus mortgage loans.  The topics include:

  • Representations and warranties (described in our Investor Announcement dated 09/11/2012)
  • Alternative to income verification for Refi Plus loans with Payment Changes ≤ 20%
  • Reduced documentation for income and assets
  • Removal of a borrower
  • Use of Hardest Hit Fund® Programs  
  • Single-Family Comparable Rental Schedule (Form 1007) for investment properties

Investors should consult the announcement for specific details pertaining to the changes.

Investors may also contact our Fixed-Income Securities Helpline at 1-800-BEST-MBS (1-800-237-8627) if they have additional questions.

Originally published: 09/14/12