The Federal Housing Finance Agency recently announced that Fannie Mae and Freddie Mac loans originated on or after Oct. 1, 2017, are eligible for their new refinance programs aimed at borrowers with underwater loans. The FHFA expects applications for the new high loan-to-value streamlined refinance program, originally announced last August, to be available in late 2018. To be eligible for Fannie’s High LTV Refinance Option and Freddie’s Enhanced Relief Refinance program, borrowers must benefit from a reduced monthly payment, lower interest rate, shorter amortization term or by switching from an adjustable-rate mortgage to a fixed-rate loan. One of the benefits of the newer programs, which...