Targeting FHA Streamline Refinance Prospects

Services for Real Estate Pros with Datamark

If you have been in the mortgage industry for some time, you know that FHA streamline deals are sparse when the economy is good and the shelter from the storm during rough economic times, and this economic cycle is no exception. Easy credit and income qualification, laxed appraisal requirements and historically low interest rates make FHA streamline deals attractive to brokers and homeowners alike. A brief discussion follows on how FHA streamline refinances differ from the conventional underwriting requirements, and how you can use soft credit data to identify pre-qualified prospects for the program. 

No appraisal: One of the defining characteristics of the FHA Streamline Refinance Program is that a home appraisal is not required. This is extremely alluring given the state of the housing market where home values have rendered conventional deals nearly impossible. The homeowner can owe twice what the home is worth in today's market, but the FHA will refinance their home without any added cost or penalty. 

No income/credit qualification: The FHA's stance when refinancing an FHA insured loan is that the homeowner already met the income requirements when the loan was originally funded, and assuming they have been faithfully paying their mortgage on time, there is no need to verify income again. This sweeping update rolled out in April of 2011 accelerates the closing.

Benefit to the homeowner: The objective of the streamline refi is to reduce the homeowner's payment. To achieve the purpose of the program, applicants must demonstrate a tangible benefit in the refinance. With interest rates as low as they are today, nearly all loans insured by the FHA are candidates. 

Targeting the most eligible candidates for FHA streamline refinance

Using our tri-bureau, prescreen consumer credit platform,  you can identify the most qualified prospects for refiance under the FHA streamline guidelines. Some common filters include: 

  • FHA insured loans
  • Mortgage payment history: No delinquent payments within the past 12 months. 
  • Seasoning: Select loans originating prior to June 1, 2009
  • Number of mortgage trades: Cap at 1st mortgage
  • Credit score: you choose
  • Loan balance range: you choose
  • Interest rate: you choose
  • LTV: you choose
These filters are not exhaustive, and we can apply a wide variety of precise attributes to put your message in front of the most qualified candidates for refinance. For expert consultation, fast counts and custom quotes, contact us at 1-800-396-9349. 



Datamark provides one of the most comprehensive and reliable mortgage databases in the industry. You get unprecedented access to all three leading credit bureaus within a single, robust platform that houses data on 180 million unique consumers nationwide and processes 700,000 credit inquries daily. Our focus is on pre-qualification so that financial marketers can reach the most eligible prospects, resulting in more funded deals, lower costs and a higher return on investment. 


Comments (1)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the information about fha streamline refinancing.

Aug 16, 2012 08:38 PM