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MPF Traditional Selling – Allowable Cash Back
Effective Date: Immediately (unless otherwise noted within)
The MPF Traditional Selling Guide has updated the amount of cash back allowed on all limited cash-out refinance transactions. To provide flexibility in the disbursement of cash back to the Borrower, the amount of cash back that may be provided directly to the Borrower (or to another payee) may not exceed the greater of 1% of the new mortgage loan amount or $2,000.
For additional information, see MPF Traditional Selling Guide Section 2.6.2.1 Limited Cash-Out Refinance.
For questions or assistance, please contact the MPF Service Center by using one of the following options:
- MPF Customer Service Portal
- Email: [email protected]
Phone: (877) 345-2673