Fannie Mae Lender Letter (LL-2021-10) Introduction of the RefiNow™ Option - Updates

June 16, 2021

Fannie Mae announces changes to the RefiNow option previously published on May 5, 2021, to allow existing subordinate financing to be simultaneously refinanced as part of a RefiNow transaction, provided certain requirements are met, permit borrowers who have resolved missed payments due to a COVID-19 forbearance to be eligible for a new RefiNow transaction, and clarify the paystub requirements to align with current policy.

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