This Lender Letter provides information about a new refinance option – RefiNow – that will enable more borrowers to refinance to a lower interest rate and reduce their monthly mortgage payment.
Effective: RefiNow will be available for Desktop Underwriter® loan casefiles submitted or resubmitted to DU® Version 11.0 on or after the weekend of Jun. 5, 2021. See the DU® Release Notes for additional information. This option is available for manually underwritten loans with application dates beginning Jun. 5, 2021. We will be able to accept delivery of RefiNow whole loans and loans in MBS beginning Jun. 5, 2021.