Second Home Refinances: References in Fannie and Freddie Guidance.

I posted earlier HERE about apparent eligibility of second homes under the Fannie and Freddie refinancing program of the Making Homes Affordable Plan.

I found the specific sections of the Fannie and Freddie guidance that reference second homes and don't see any signficant restrictions other than requirement that Fannie or Freddie must have been prior purchaser (same eligibility restriction as all refi loans).

• In the Fannie refi guidance, it's at the top of page 8 HERE
• In the Freddie refi guidance ,it's on page 3 HERE

If there is good news, I expect adverse press and public reaction will likely cause disclosure of how many second home loans Fannie and Freddie made, and hopefully discontinue the practice in the future.

I am guessing their number of second home loans in the past must be substantial, if not why take the heat for such an obviously controversial policy?