For programs such as the Home Affordable Refinance Program (HARP) you may need to determine who the investor for your mortgage is to see if you are eligible for a mortgage refinance. Many people assume that your investor is the mortgage servicer that you pay each month however this is a misnomer. A mortgage services simply collects your mortgage payments and passes them on to the investor that holds your mortgage. They get paid a small fraction for this service.
Fannie Mae which is short for, Federal National Mortgage Association (FNMA), for example, is a government sponsored entity that buys and sells mortgage backed securities. Fannie Mae holds only conventional or conforming mortgages. If you have a FHA loan, Rural Housing loan or VA loan then Fannie Mae is not your investor.
The Home Affordable Refinance Program (HARP) allows underwater home owners to refinance their mortgage if Fannie Mae owns the loan.
Step One: Gather the following information to begin your loan lookup:
Step Two: Visit Fannie Mae's website for the loan lookup tool at: https://knowyouroptions.com/loanlookup
Step Three: Complete the information and click "Get Results" to confirm if Fannie Mae owns your loan. For one on one help, request information below or call a licensed loan officer at 1-800-555-2098 for immediate assistance.
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For additional resources on the Home Affordable Refinance Program for Michigan home owners visit the links below: