Attention: Wholesale Clients
Updates on the Making Home Affordable Program
The Freddie Mac Relief Refinance MortgageSM, the Fannie Mae Refi PlusTM and the DU Refi PlusTM programs are provisions of the Making Home Affordable Program of 2009, which are intended to provide access to more attractive refinancing options for borrowers with Agency-secured loans. (Please note that these provisions were originally announced as the Homeowner Affordability and Stability Plan; they are now part of the Making Home Affordable Program.)
Both the DU Refi Plus and the Freddie Mac Relief Refinance Mortgage programs will be offered by Wells Fargo Wholesale Lending. We will provide you with updates regarding availability when we have more information.
Wells Fargo will participate in the Fannie Mae Refi Plus program via our direct to consumer channel, but at this time, it will not be available through Wells Fargo Wholesale Lending.
What can you do to help your borrowers prepare?
1.
Visit financialstability.gov to check on eligibility requirements.
2.
If customers appear eligible after visiting the site, determine who is currently servicing the loan.
3.
Have the borrower collect current income documentation.
4.
Don’t order an appraisal yet – wait for additional information from Wells Fargo regarding program requirements.
If you have any questions, please contact your account executive.