Carrington Wholesale Lending

Bulletin W13-109 – Launch of Freddie Mac Relief Refinance – Open Access

September 9, 2013Bulletins

Topic included in Bulletin W13-109:

  • CMS adds the Freddie Mac Relief Refinance Open Access program to product offerings
  • Highlights of the program include:
    • 30,20 and 15 Year Fixed Rate
    • Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, 135% LTV/CLTV with 660 credit score
    • Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, 105% LTV/CLTV with 620 credit score
    • Non-Owner Occupied loans up to 105% LTV/CLTV with 660 credit score
    • Maximum DTI is 50%
    • Loans must be submitted through Loan Prospector with a Risk Class of Accept Only
    • Maximum cash back to the borrower is $250
  • Program Codes and corresponding LTVs are reflected in the pricing engine
  • Program available Tuesday, September 3, 2013
  • Intranet Updated with matrix and guidelines

Download: Bulletin – W13-109 (PDF)

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