Freddie owned, but current servicer doesn't offer HARP...Are there any wholesale options?

Hi Guys,

I currently have a client that I refinanced in early 08 with an 80% ltv. The property value has dropped and the Freddie held loan seems like a perfect candidate for HARP. Problem is Amtrust is the servicer and they don't offer HARP. My understanding is HARP requires that the loan stay with the current servicer.

Am I correct that I cannot take this to another Freddie lender? DU refi Plus is specifically for Fannie held loans correct? Are there any options out there? The current ltv is too high for any other option. 

Thanks for your help!

T

My understanding is the only way for HARP to work is for the original servicer to do it.  All my customers have been told that.

You are correct that Freddie Mac requires the loan to go back to the servicer through the retail or wholesale channels.  You are also correct that DURP is only for Fannie Mae loans.

The only other options may be government loans (VA or FHA).