Freddie Mac issued Bulletin 2017-17 (Bulletin), announcing the new Enhanced Relief Refinance (ERR) program. The ERR program provides refinance opportunities to borrowers that are making their mortgage payments on time but cannot take advantage of a “no cash-out” refinance because the loan-to-value (LTV) ratio of the new mortgage exceeds the maximum limits. The Bulletin contains a high-level summary of some of the requirements for the ERR program. The Bulletin also formalizes a previously announced extension of the Freddie Mac Relief Refinance Mortgage – Same Servicer and Open Access to make sure high LTV borrowers continue to have refinance opportunities until the ERR program is available. The Bulletin went into effect September 8, 2017. However, the ERR is effective for mortgage loans with Application Received Dates 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
