Freddie Mac Seller/Servicer Guide 4301.6: Special purpose cash-out refinance Mortgages
A special purpose cash-out refinance Mortgage is a cash-out refinance Mortgage where the owner of a property uses the proceeds to buy out the equity of a co-owner.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 4301.6 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) Allowable uses of proceeds from a special purpose cash-out refinance Mortgage
- (b) Special Borrower requirements
- (c) Documentation requirements
- (d) Credit Fees
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.