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The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers

On Tuesday, September 14 from 12:00 p.m.-1:30 p.m., Freddie Mac will present its webinar “Freddie Mac Refi Possible Mortgages,” instructed by Brian Scholz, National Trainer in the Customer Education Services Department within Single-Family Strategic Delivery for Freddie Mac.

This webinar will detail how to create more opportunities for lower-income borrowers to refinance with features that help overcome many common borrower challenges with Freddie Mac’s new refinance option.

Available in Loan Product Advisor and for manual underwriting as of August 30, 2021, Freddie Mac’s Refi Possible offering will enable millions of homeowners the opportunity to reduce their monthly mortgage expenses through refinance, enhance their capability to save more and build housing stability, and generational wealth through housing. Refi Possible provides features to create opportunities for homeowners who may not believe that they could benefit from refinance:

  • For homeowners with incomes at or below 80% of the Area Median Income (AMI)
  • Availability on all housing types to include manufactured housing, expanded eligibility guidelines, waivers on appraisal fees and credit fees in price
  • Allowances for loans in COVID forbearance and an opportunity to roll in portions of the closing costs.

The Refi Possible offering was released in early May of 2021.

As National Trainer, Brian Scholz provides external training to Freddie Mac Seller/Servicers, creating training materials and facilitating various courses focused on single-family origination topics through multiple platforms, including tutorials, webinars and live events. He joined Freddie Mac in 2008. Prior to his current role, he served as a Single-Family Quality Control Senior Underwriter. Before joining Freddie Mac, he was an Underwriter in the primary market, specializing in conventional and sub-prime mortgages.

Click here for more information or to register for this event.

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About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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