standard refinancing and enhanced streamlined refinancing
The first "Keys to Recovery" initiative that Fannie Mae announced on May 6, 2008 also includes: streamlined refinancing
for Fannie Mae borrowers whose mortgage balances exceed the value of their homes; improved pricing for jumbo-conforming mortgages to help borrowers in high-cost areas; and a neighborhood stabilization initiative with the Center for Community Self-Help for targeted areas with high home foreclosures.
I'm not certain what it will be, but my guess is it will be some form of streamlined refinancing
opportunities,'' Gumbinger said.
A truly streamlined refinancing
process would also enable a lender to build note modifications into the mortgage.
The streamlined refinancing
loan niche that we have established for ourselves within the mortgage industry was largely untapped until we made it our primary focus in early 1990," he said.
More important, their documentation remained fresh, making a streamlined refinancing
With mortgage rates much lower than a year ago and with most experts expecting a refinancing boomlet this summer and fall, our streamlined refinancing
for Desktop Underwriter is a win-win: faster turnarounds and higher volumes for lenders and faster loan closings for consumers.
Glory notes that streamlined refinancing
guidelines have helped lenders this year.
2 Streamlined refinancing
with a nonrisk-based mortgage insurance premium (MIP)
Previously, Standard & Poor's required title insurance on all first-lien mortgage loans except streamlined refinancings
While the company can approve conventional mortgages and streamlined refinancings
over the Internet, borrowers can also receive underwriting approval on all loans that ACMC offers through its Carson-based call center.
The higher premium and closing-cost restrictions imposed on FHA business by the 1990 housing law applies to streamlined refinancings
as well, although that is still a sore point between some in Congress and HUD.