Home Affordable Refinance Program

Despite the fact that Refi Plus and DU Refi Plus with LTV ratios above 105% are not eligible to TBA, Fannie Mae has created a non-TBA MBS prefixes that specifically cater for these loans. Refi Plus Loans with LTV ratios above 125% may be delivered into existing MBS contracts and will use the same base guaranty fees as those used for the lender’s standard conforming mortgage loans.The applicant must also be current in the on the mortgage at the time of the refinance, and also have a record of good payment history for the last twelve months. Some of the mortgage services offer HARP loan, but if not, one can access from Freddie Mac or Fannie Mae to determine if the borrower can access the HARP loan.