Cash-Out Refis Dry Up as Price Hikes Prove Too Costly

National Mortgage News, May 4, 2020–Kate Berry (subscription)
Mortgage lenders have released new rate sheets in the past week showing higher credit scores and loan-to-value ratios plus added fees for cash-out refis. The changes are in response to the Federal Housing Finance Agency’s policy last month that excludes cash-out refinancing from the single-family loans that Fannie Mae and Freddie Mac will buy in forbearance.