Homepoint Expands Refinance Program Offerings
Summary
“With interest rates still at historic lows, we are excited to roll out this new refinance program to enable even more customers in our servicing portfolio to save money on their mortgage,” said Phil Shoemaker, Homepoint’s president of originations. “This presents more opportunity for our mortgage broker partners to communicate with qualified customers who would stand to benefit from refinancing before rates rise.” Additionally, Homepoint will provide a maximum $500 appraisal credit for borrowers who are not eligible for an appraisal waiver. The Federal Housing Finance Agency, which regulates Freddie Mac, estimates that more than 2 million low-income families did not refinance in 2020 when they could have benefited from it. Homepoint is offering Refi Possible to homeowners who meet all the following criteria: • Must have a Freddie Mac-backed mortgage secured by a one-unit, principal residence. Founded in 2015 and headquartered in Ann Arbor, Homepoint works with a nationwide network of more than 8,000 mortgage broker and correspondent partners with deep knowledge and expertise about the communities and customers they serve.