Freddie Mac announced that it is changing its program for “relief refinancing mortgages” by making some adjustments effective for mortgages settling Sept 1.

These changes are: allowing borrowers to refinance across any servicer, and not just their original lender; allowing for the rolling-in of closing costs or the lesser of 4% or $5,000; and the re-introduction of a loan-level pricing adjustment (LLPA) matrix, which charges borrowers up to 2.75 points upfront depending on the borrower's LTV and FICO of the borrower.

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