Updates and Clarifications regarding DU Refi Plus and the High Loan To Value Refinance
Effective Date: Immediately (unless otherwise noted)
DU Refi Plus Program Retirement
PFIs are reminded that Fannie Mae is retiring the DU Refi Plus Program in accordance with the Home Affordable Refinance Program (HARP). All of the mortgage insurance flexibilities available for DU Refi Plus and Refi Plus apply only to mortgage loans with application dates on or before December 31, 2018, and loans must be delivered into the program no later than September 1, 2019.
High Loan to Value Refinance Option
Fannie Mae has replaced the DU Refi Plus Program with the High Loan-to-Value Refinance option. PFIs should note that the MPF Program is not accepting High Loan to Value Refinance loans at this time. The MPF Xtra Selling Guide will be updated to reflect this at a later date.