Fannie Mae issued Lender Letter LL-2018-02, providing updates and additional details regarding the upcoming High Loan-to-Value Refinance option (available later this year). Fannie Mae introduced the High Loan-to-Value Refinance Option in September of 2017 (available for refinance applications received on or after November 1, 2018). Per the Lender Letter, Fannie Mae increased the minimum required LTV ratio to 97.01% for a one-unit, principal residence (originally 95.01%). The Lender Letter also announces loan-level price adjustment information for high LTV refinance loans. Fannie Mae’s Loan-Level Price Adjustment Matrix (posted on Fannie Mae’s website) has been updated to reflect high LTV refinances. In addition, the Lender Letter outlines delivery requirements specific to high LTV refinance loans.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
