Radian’s GSE Refinance Modification Program

Supporting Fannie Mae's High LTV Refinance Option and Freddie Mac's Enhanced Relief Refinance programs

Effective December 31, 2018 Radian will retire our HARP® Eligible Modification Program. Fannie Mae’s High LTV Refinance Option and Freddie Mac’s Enhanced Relief Refinance programs will replace HARP. The new GSE refinance programs will continue to assist existing homeowners with performing loans who do not qualify for standard refinance programs due to high loan-to-value ratios.

Radian is a proud partner in the effort to help responsible homeowners keep their homes and will support the new GSE programs for eligible refinance applications dated on or after November 1, 2018. We have assembled many of the details below that you need to expedite the submission process. Choose the appropriate tab for more information on Radian's policy and requirements. Contact us for more information about this program.

For submission requirements and instructions for non-performing loan modifications, refer to our Servicing Guides.

  • Refinances Closed on or after 1/1/2019
  • Refinances Closed prior to 1/1/2019

High LTV Refinance Option/Enhanced Relief Refinance

Borrowers with performing loans originated on or after October 1, 2017 and seasoned for a minimum of 15 months may be eligible for Fannie Mae’s High LTV Refinance Option or Freddie Mac’s Enhanced Relief Refinance programs. Refinance transactions submitted under these programs must have a closing date on or after January 1, 2019.

 
Eligible for Fannie Mae High LTV Refinance Option or Freddie Mac Enhanced Relief Refinance Servicer Radian Guidance Certificate MI Rate Factor/Coverage Percentage Documentation Required
Yes Same/New GSE Refinance Modification Program Policy Certificate of Insurance Endorsement for Loan Modification Original rate factor and coverage percentage Notification of Mortgage Insurance Modification
No Same/New Current published Underwriting Guidelines New Certificate of Insurance Current published rate factor and requested coverage percentage Loan application requirements as per Radian’s standard delegated and non-delegated submission methods

HARP

The Federal Housing Finance Agency designed HARP to provide homeowners with refinance assistance. HARP is available for borrowers with performing loans originated on or before May 31, 2009. A homeowner's servicer may provide a proprietary program similar to HARP for loans not purchased by GSEs. These loans may be eligible for Radian's Non-GSE Modification Program. Radian's HARP Eligible Modification and Non-GSE Modification Programs expire December 31, 2018.

Eligible for Fannie Mae or Freddie Mac HARP refinance Servicer Radian Guidance Certificate MI Rate Factor/Coverage Percentage Documentation Required
Yes Same/New HARP Eligible Modification Program Certificate of Insurance Endorsement for Loan Modification Original rate factor and coverage percentage Notification of Mortgage Insurance Modification
No Same Non-GSE Modification Program Certificate of Insurance Endorsement for Loan Modification Original rate factor and coverage percentage Notification of Mortgage Insurance Modification
No New Current published Underwriting Guidelines New Certificate of Insurance Current published rate factor and requested coverage percentage Loan application requirements as per Radian’s standard delegated and non-delegated submission methods