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June 12, 2020

New Refinance and Affordability Tests Available

We posted a new Refinance Test (2020Q1) [zip] effective for all new loans, except for Small Balance Loans, starting June 12.

Changes to the test include market and interest rate data modifications. To more accurately represent refinance risk, the rates multiplier was adjusted, which keeps the implied 10-year forward rate in the test at 3.30%. Combined with broader market changes, the updated test is getting more restrictive than last release.

To access the new Refinance Test, visit our Refinance Test and Resources page

An updated version of the Affordability Test is also available. This resource provides you with estimated affordability profiles.

Please contact your Freddie Mac Multifamily representative with any questions.

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