New Date For Committing Refinance Loans Up To 125% LTV

Mae has bumped up the date that lenders can begin committing Refi Plus loans with loan-to-value ratios (LTVs) up to 125%. Lenders can originate Refi Plus loans under the manual underwriting option with LTVs of 105.01% to 125% beginning Aug. 1 – one month sooner than the Sept. 1 date included in a prior Fannie Mae announcement about the Home Affordable Refinance Program's expanded eligibility parameters. Fannie Mae lenders may use both eCommitting and eCommitONE to commit Refi Plus loans with LTVs over 105% beginning Aug. 1, and the company will accept both whole loan and mortgage-backed security deliveries of Refi Plus loans with LTVs up to 125% beginning Sept. 1. SOURCE: Fan

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