Fannie Mae issued Lender Letter 2017-05, announcing a new high loan-to-value (LTV) refinance program. The new high LTV refinance program is designed for borrowers who are making their mortgage payments on time, but whose LTV ratios exceed the maximum allowed for standard limited cash-out refinance transactions. The Lender Letter describes the requirements for the new high LTV refinance program, but stipulates that the program will only apply to existing mortgage loans with a note date on or after October 1, 2017. The Lender Letter also announces an extension to the expiration date of DU Refi Plus and Refi Plus. Pursuant to the extension, lenders may continue to originate DU Refi Plus and Refi Plus loans with application dates up to and including December 31, 2018. All whole loans must be purchased by Fannie Mae on or before September 30, 2019, or included in MBS pools with issue dates on or before September 1, 2019. The new high LTV refinance program is effective for refinanced mortgage loans with an application date on or after November 1, 2018.
FHA
FHA Revises and Streamlines Policy Established in Mortgagee Letters 2024-24 and 2025-12
FHA issued Mortgagee Letter (ML) 2025-14 revising and streamlining policy established in ML 2024-24 (Modernization of Engagement with Borrowers in Default) and providing clarifications to
June 4, 2025
