General World News

Fannie Mae publishes FAQ for low-income refi option

This week, Fannie Mae published a new frequently asked questions (FAQ) document related to RefiNow, the refinancing product announced by the Federal Housing Finance Agency (FHFA) in 2021 that targets low-income borrowers with single-family mortgages backed by the government-sponsored enterprises (GSEs).

Fannie Mae explains in the document that RefiNow products are not limited to the same servicer as the original loan and notes the differences between RefiNow and HomeReady, the low down payment mortgage. Fannie Mae also created a separate document that compares the features and requirements of details ⇒

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