Freddie Mac No Cash-out Refinance Incidental Cash-Out Allowance
Effective immediately, NewRez will begin accepting LPA Accept, No Cash-out Refinance transactions where there is a disbursement of cash back to the borrower (or any other payee) up to the greater of 1% of the new refinance mortgage or $2,000. All remaining No Cash-out Refinance guidelines apply.
The Product Profiles and Overlay Matrix will be updated at a future date.