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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.
A Refinance program for clients who have negative or no equity in their home. The Making home affordable harp Program announced by the Department of the Treasury on March 4, 2009, includes a new initiative – Home Affordable Refinance – to provide refinance opportunities to borrowers with mortgages held or guaranteed by Fannie Mae.
The Desktop Underwriter (DU) Refi Plus lets homeowners whose mortgage loan is owned by Fannie Mae refinance with flexible options. designed for borrowers who have good payment history but have been unable to refinance for a lower payment, the DU Refi Plus allows you to get lower rates without mortgage insurance.
– 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.
– For DU Refi Plus and Refi Plus, mortgage insurance coverage must extend for the life of the new loan, or until cancellation or termination of coverage as required by law or Fannie Mae guidelines, whether the mortgage insurance company modifies the existing mortgage insurance certificate or issues a.
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.
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Du Refi Plus – We are providing refinancing options that fits your needs. If you consider to refinance your mortgage loan don’t waste your time and submit the form. If you are paying too much every month for your mortgage, it may be time to refinance.
DU Refi Plus was to light a flame into the mortgage industry by simplifying the refinance process for millions of Americans. With underwriting guidelines that include lower acceptable credit scores, decreased income documentation and even appraisals being waived in certain situations.