– DU Refi Plus and Refi Plus: Properties Affected by a Disaster. Fannie Mae will not require a property secured by a DU Refi Plus or Refi Plus mortgage that was damaged as a result of a disaster to be repaired prior to delivery as long as the loan meets the property insurance requirements described in Chapter B7-3, Property and Flood Insurance.
The DU Refi Plus or Open Access Relief programs are designed for homeowners who owe more than 80% of the current value of their home. If you owe less than 80% of the current value of your home, a traditional refinance is the way to go. There is no advantage in the HARP programs if you have 20% or more equity in your property.
The Refi Plus program involves manual underwriting of same-servicer mortgages, while DU Refi Plus involves the use of an automated underwriting system called Desktop Underwriter. What’s important to homeowners, though, is that Fannie Mae’s Home Affordable programs are designed to get the mortgage refinance done fast.
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DU Refi Plus-eligible – opting to Underwrite as standard limited cash-Out Refinances Lenders may instruct DU to underwrite a DU Refi Plus-eligible loan casefile as a standard limited cash-out refinance by entering the phrase "Standard LCOR" in the Product Description field prior to underwriting.
Do Refi Plus – Westside Property – The Refi Plus program involves manual underwriting of same-servicer mortgages, while DU Refi Plus involves the use of an automated underwriting system called desktop Underwriter. What’s important to homeowners, though, is that Fannie Mae’s Home Affordable programs are designed to get the mortgage.
SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the california financing law license No. 6054612.
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Lenders must follow all other requirements for Refi Plus as described here and in B5-5.2-01, DU Refi Plus and Refi Plus Eligibility, B5-5.2-03, DU Refi Plus and Refi Plus Property Valuation and Project Standards, and B5-5.2-04, DU Refi Plus and Refi Plus Closing, Pricing, and Delivery Special Feature Code 288 is required at delivery.