FHA streamline program?

[Nicole Wood]

I got an email on Friday from my mortgage broker that funded my last deal. We did an FHA loan for a duplex. He says there is a program called the FHA streamline refinance. He says no paperwork is required with exception of latest statement from the mortgage company. He states this will lower our interest rate into the 3% range (we are 5.5% right now!). He says there is no catch and it doesn't disqualify us from refinancing in the near future.

Has anyone had experience with this? I like the sounds of it but it sounds too good to be true!