Announcement 2021-016 - Home Possible Clarification

Effective immediately for Home Possible transactions, the current loan does not have to be owned by Freddie Mac for a Rate & Term Refinance when the LTV/CLTV is 95.01% to 97%.

 

The requirement for the existing loan to be owned by Freddie Mac still remains for 95.01% to 97% LTV/CLTV on HomeOne Rate & Term Refinances.

 

Please reference the NewRez Lending Library for the changes outlined in this announcement.