Fannie expands student debt mortgage swap program · PERT Florida Real Estate School

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Borrowers will have an opportunity to convert higher interest rate student debt to a lower interest rate and potentially reduce monthly debt payments. When at least one student loan is paid off directly to the student loan servicer and delivered to Fannie Mae with Special Feature Code 841, we will waive the loan-level price adjustment.

Now, it’s swelling up again – money is being floated into refinancing corporate debt, etc, and the process is already repeating. Oh, and just maybe, I don’t have my hopes real high; but, if some of.

A Fannie Mae lender with a better idea on handling student debt has sparked a 10-lender pilot program now being tested in the marketplace. The idea came from Eagle Home Mortgage, the lending arm of national homebuilder Lennar. In a nutshell, Lennar wanted to test expanding the interested-party.