Fannie/Freddie Creates Opportunity for Higher Risk Borrowers Who Missed Refi Boom

<ul><li>FHFA says it has directed the GSEs Fannie Mae and Freddie Mac to implement an initiative to encourage eligible low-income borrowers to refinance and lower both their interest rates and their monthly mortgage payments.</li><li>Under the new option, a lender must provide a minimum reduction in the monthly mortgage payment of $50 and a decrease in the borrower's interest rate of at least 50 basis points .</li></ul>

___
Check It Out:

– Fannie/Freddie Creates Opportunity for Higher Risk Borrowers Who Missed Refi Boom