Announcement 2021-046 - Fannie Mae RefiNow Refinance Option

Fannie Mae implemented the RefiNow refinance option available for Desktop Underwriter loan casefiles submitted or resubmitted to DU version 11.0 on or after the weekend of June 5, 2021.  At this time Newrez, will not be offering the RefiNow Refinance option and will be offered at a later date.


DU will evaluate all eligible limited cash-out refinance (LCOR) loans for the RefiNow program. You will be able to instruct DU, via Epic, to underwrite a loan casefile as a standard limited cash-out refinance (“Standard LCOR”). A NewsFlash will be forthcoming with instructions on how to opt out of the RefiNow product and to proceed as a standard LCOR.