GSEs Look to Follow FHA’s Lead on Streamlined Refis

1. Requirements for Streamline Refinances, Continued 4155.1 6.C.1.c Appraisals on Streamline Refinances FHA does not require an appraisal on a streamline refinance. These transactions can be made with or without an appraisal. FHA does not require repairs to be completed on streamline refinances with appraisals, with the exception of lead-based.

enable unemployed borrowers to look for a new job without fear of foreclosure. The making home affordable program was launched in March 2009 with the home affordable modification Program (HAMP), which provides assistance to struggling homeowners by lowering monthly first lien mortgage payments to an affordable level.

FHA Streamline Loan Requirements. You must own the original property for at least six months before you can qualify for refinancing. To refinance you’ll need an FHA-approved lender. If you don’t want to use your current lender, any bank you choose must be FHA approved. FHA Streamline loans do not require an appraisal,

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 · Fannie Mae and Freddie Mac saw big declines in their seniors housing volume in 2010, but spurred by improving fundamentals in the sector, both GSEs have grown more flexible to help drive volume this year. Fannie and Freddie are pricing standard 10-year seniors housing mortgages in the high-4 percent, low-5 percent range, as of mid-November.

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The FHA Streamline Refinance is a special mortgage product, reserved for homeowners with existing FHA mortgages. FHA Streamline Refinances are the fastest, simplest way for FHA-insured homeowners to refinance their respective mortgages into lower interest rates.

The GSEs’ Funding of Affordable Loans1 A. Introduction and Main Findings An important issue highlighted by the recent affordable housing regulations for Fannie Mae and Freddie Mac and studies on the desirability of privatizing these two government-sponsored enterprises (gses) concerns the extent to which the GSEs lead or lag the overall

VA Cash-out refinance, VA IRRRL, FHA Streamline, FHA Cash-out and USDA Streamline assist. Last week’s apps were -4%, with purchases -6% and refis -2%. January’s CPI and retail sales reports were.

Lenders aren’t required to follow the lead of the GSEs on appraisal waivers, and mortgage insurers may continue to require appraisals. Competitive pressure to process mortgages faster and save borrowers the cost of appraisals will undoubtedly motivate most lenders to.