Citimortgage subordination LTV requirements

**citisecond** · 05-19-2009, 07:04 PM

I have a first mortgage with WF and a second mortgage with Citimortgage. I will be doing a HARP refi for the first mortgage and leave the second in place, but Citi has to agree to re-subordinate. Does anyone know their normal LTV ratio requirement for subordination? And is this the same if one is doing a HARP refi or does the required LTV change? Are they even going to agree to subordinate, I have read some pretty bad stories concerning Citi and subordinations...

**Maurice Bedard** · 05-19-2009, 08:29 PM

Is your loan FannieMae or FreddieMac?

**citisecond** · 05-20-2009, 05:13 AM

My primary mortgage is Freddie Mac...why?

**Maurice Bedard** · 05-20-2009, 11:13 AM

try contacting the executive team to see if they are able to answer the question............I was only able to find the FannieMae refi guidelines and not the FreddieMac ones..............
1-866-255-3901

the only information that we have regarding the MHA refi is..........

• The property must be owner occupied,
• The borrower must have sufficient income to support the new mortgage debt, and
• The first mortgage may not exceed 105% of the current market value of the property. For example if the property is worth $200,000, the borrower must owe $210,000 or less.

The borrower may still be eligible for a refinance if the first lien does not exceed 105% of the value of the property and all junior lien holders agree to subordinate to the new first mortgage.

Borrowers who are currently delinquent on their mortgage will not qualify. You should contact your servicer to see if a Home Affordable Modification is an option for you.