HomeBridge is reminding brokers that Fannie Mae retired the DU Refi Plus program effective December 31, 2018. Loans submitted under the DU Refi Plus program must have an application date on or before December 31, 2018 and the loan must close no later than July 15, 2019.
Fannie Mae is replacing DU Refi Plus with the High LTV Refinance Option. The following applies:
- The loan being refinanced must currently be owned by Fannie Mae but cannot be a loan that was previously refinanced under the DU Refi Plus program. The Fannie Mae tool Know Your Options to determine if Fannie Mae owns the current loan.
- The loan application must be dated on or after November 1, 2018
- The Note date of the mortgage being refinanced must be on or after October 1, 2017
- Loans must be submitted to DU and receive an “Approve/Eligible