There’s an interesting term in that link: “maximum original principal obligation of a mortgage”. Does anyone have a definition for this term? It would be interesting to know whether Fannie can buy/guarantee refis or whether fannie/freddie can only buy/guarantee a mortgage that resulted in a sale from one party to another. It’s probably just wishful thinking on my part, but it would be nice if Fannie/Freddie could not purchase a refi mortgage.
