Limited cash-out refinance

Fannie Mae – Divorced Client-Refinance Type: If a borrower is on the title but not on the loan and wants to refinance the property assigned to her in the divorce, is this a rate/term or cash-out? [Divorce Chart]

Answer: Follow the highlighted text below. You should be able to do a limited cash-out refinance on this loan even if she has not been on title. Fannie Mae got rid of their ‘continuity of obligation’ rules a couple years ago. Reference: B2-1.2-02, Limited Cash-Out Refinance Transactions (02/27/2018) Introduction This topic contains information on limited [...]

2018-06-28T16:09:29-05:00March 23rd, 2018|

Fannie Mae – 97% LTV Options for Purchases and Limited Cash-Out Refinances – Updated February 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae has updated their FAQs for 97% LTV Options for Purchases and Limited Cash-Out Refinances.  Excellent clarification contained in this article, so be sure to read it and update your knowledge. Rule Synopsis: Fannie Mae updated their 97% LTV Options for Purchases and Limited Cash-Out Refinances FAQ document. The [...]

2018-05-31T09:17:31-05:00March 9th, 2018|