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Non Fannie Mae or Freddie Mac Loan Refi Question

Im a Loan Officer in Los Angeles County. I have a client that is in need of a refinance loan. My clients loan is a conventional but neither fannie mae or freddie mac own the loan. SO they cannot qualify for those special govt programs because the loan is not serviced through those two instituations. Yes, the client can qualify for a FHA or regular Conv but we do not want to pay for MI. Is there a program that will do this loan without MI? by betteybaker from Wellsburg, West Virginia. Jun 7th 2011 Reply


Branch Manager Matthew Boyce (Matt Boyce)
#10 ranked lender in New Jersey - 18 contributions

Ummm. Did ya try running through DU and AUS? 97% LTV is going to be your max WITH MI even if you qualified through DU Refi Plus, etc. because the MI companies won't allow higher LTV. This is a question for your underwriter. Worst case is they suck it up and pay the MI. FHA rates will be much better anyway plus they can write off the MI payments. Good luck!

Jun 7th 2011
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Gianni Cerretani (mortgagegodfather)
#38 ranked lender in Georgia - 238 contributions

Are you 100% sure it is not owned by fannie or freddie??? Did you check on ther websites?

Jun 7th 2011
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Chris Gummerson (cgummerson11)
#10 ranked lender in California - 547 contributions

What is the LTV you are trying to obtain?

Jun 7th 2011
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Betty, my wife and I are in the same boat. If you find out any info, could you please help us? Thanks

Jul 23rd 2013
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