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August 06, 2018

New Refinance Test Effective August 6

You can start using a new Refinance Test (2018Q2)for all new loans, except for Small Balance Loans, on August 6, 2018, with a grace period up to August 20, 2018.

Changes to the test include market and interest rate data modifications. In this updated test, the rates multiplier, which keeps the implied 10-year forward rate in the test at 4.67 percent, more accurately represent refinance risk. Combined with broader market changes, the updated test is more restrictive than the previous test.

To access the new Refinance Test, visit our Refinance Test and Resources page. Please contact your Freddie Mac Multifamily representative with any questions.

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