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Home »  Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: CA, $371,000, Refinance (Rate and Term)

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Post Statistics: 441 Views, 1 Replies
Latest Post: Thu, Jul 16 2009 6:18 PM by Eric Leithliter
  		• Thu, Jul 16 2009 5:50 PM
    Loan Scenario: CA, $371,000, Refinance (Rate and Term)
    Loan Scenario
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    Loan State: California
    Loan County: San Diego
    Loan Type: Refinance (Rate and Term)
    Loan Amount: $371,000
    Property Value: ---
    LTV: ---
    FICO: ---
    DTI: ---
    Occupancy Type: Owner-Occupied
    Property Type: Single Family Residence

    Hi All,

    I have a client having Freddie loan now and I want to do a Freddie to Freddie refinance with some other service provider. Does nyone have an idea which     lender would do this loan.

    There is no PMI now. The LTV is 87% and CLTV is 108%.

    Any help would be appreciaed....

    Darwin.M
    darwin@profolioloan.com
    Darwin M
     - View My Profile
    darwinm
    Become a Premium Member »
  • In Reply to This Post
    		 Thu, Jul 16 2009 6:18 PM

    It's impossible.  The guidelines for this program state that Freddie loans have to go back to same servicer and it has to be a new Freddie Loan.  Fannie Mae is the only one that is flexible for going to different servicers. 

    Eric Leithliter
     - View My Profile
    Residential Financing
    California Mortgage Advisors, Inc
    ericl@calmtg.com
    (415) 215-4624
    Become a Premium Member »
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