Important: Cash-Out Seasoning Update

[Kristen L Garner]

Hi BP Community! Heads up - 

Cash out refinance seasoning was previously 6 months for conforming loans.  This is increasing to 12 months in the near future.  Freddie Mac will make the increase effective March 7, 2023 and Fannie Mae will make the increase effective April 1, 2023. 

Non-QM products such as DSCR, Bank Statement, and Asset Depletion loans remain at the current 6 months seasoning period.