Freddie Mac loan with BofA as servicer. Property was originally owner occupied and is now tenant occupied. Spoke with loan officer at BofA and was told that I qualify for Harp 2 refinance, but "pricing" is bad. Interest rate would go from 6.5% to 5.25% and require $4200 at closing. Total savings on monthly payment is almost $300 per month. BofA said they are locking rates for 90 days because it is taking them so long to close. I have contacted another big bank and was told that Freddie Mac requires that you refinance through your current servicer/lender. Feeling like Harp 2 is just another way for BofA to charge fees.
1) Does anyone know of lenders/servicers refinancing BofA loans under Harp 2?
2) If so, is it possible to get normal "pricing" (i.e. lower interest rate with little or nothing due at closing)?