Freddie Mac issued Bulletin 2021-17, introducing the Refi Possible refinance mortgage. Per the Bulletin, the Refi Possible mortgage is a new “no-cash out” refinance mortgage for borrowers at or below 80% of the area median income limit. The Bulletin sets forth the eligibility, underwriting and other requirements for the Refi Possible mortgage. A Refi Possible mortgage may be secured by a one unit primary residence; manufactured home; condominium unit, planned unit development, or Fannie Mae prior approved co-op share loan. The Refi Possible mortgage is available for manually underwritten mortgages with application dates on and after August 30, 2021, and for submissions to Loan Product Advisor on and after August 30, 2021.
Click to view the Freddie Mac Guide Bulletin 2021-17: https://www.tenaco.com/wp-content/uploads/2021/06/Freddie-Mac-Guide-Bulletin-2021-17-05-05-21.pdf
