DU Refinance HARP 2.0

Refinance with DU Refi Plus:

Refinancing with Fannie Mae has just gotten much easier! With the heavily anticipated release of DU Refi Plus™ the weekend of April 4, 2009, combined with historically low interest rates, there has never been a better time to refinance, and their may not be again in the foreseeable future.

Remarkably similar to the FHA Streamline Refinance process in that DU Refi Plus™ will also "streamline" the refinance process, DU Refi Plus™ differs in the fact that it is not insured by the U.S. Department of Housing and Urban Development (HUD), but rather regulated by Fannie Mae. Fannie Mae is federally charted by the United States government, providing resources to mortgage bankers and lenders so they can, in turn, lend the money to homebuyers and existing homeowners anticipating to refinance their current mortgage. With the release of DU Refi Plus™, a number of underwriting requirements have been relaxed or scratched altogether. Income documentation is significantly reduced, credit qualifications is noticeably loosened and appraisals are waived in certain instances.

Your BankerBroker™ is an expert in the mortgage industry, and has been since 1991.

Our experienced in-house underwriting department - complimented by our knowledgeable and dedicated processing team - expedites the process from application to close, and the process is administered without the slightest concern on our borrower's end. The testimonials of our previous clients speak volumes to our dedication to detail and the importance of customer service.

DU Refi Plus™ Programs's Highlights, Advantages and Restrictions

DU Refinance Plus Loans Benefits

DU Refi Plus provides faster origination and underwriting of Fannie Mae to Fannie Mae cash-out refinance transactions.

Eligible loans receive:

DU Refinance Plus Loans - Restrictions

Qualify for DU Refinance Plus Loans

The main qualification for the DU Refi Plus program is that your loan is owned by Fannie Mae. Regardless of which mortgage lender you send your payments and paperwork to, Fannie Mae could still be the owner of your mortgage loan. The lender you communicate with may only be the servicer, not the owner of the loan.

Additional qualification criteria:

This program makes the process of loan modification and refinancing easier for the borrowers who qualify. Lower mortgage interest rates means lower monthly payments!

DU uses a proprietary credit risk assessment that evaluates characteristics in the borrower’s credit report to assess the borrower’s overall creditworthiness.

The maximum loan-to-value (LTV) ratio for refinance mortgage loans under the DU initiative has been expanded to 105 percent, and Mortgage Insurance requirements are significantly relaxed. These changes are focused on borrowers living in areas with declining home prices.

One of the goals of the DU Refi Plus Program is to help at-risk homeowners stabilize their finances. Fannie Mae and other lenders will now turn their attention to modifying riskier loans, such as Adjustable-Rate Mortgages (ARM), into more stable loans such as Fixed-Rate Mortgages (FRM).

For more information please call 1-877-410-6663