Here are the features of this program :

1. Loans must be a Fannie Mae or Freddie Mac serviced loan.

2. Up to 125% LTV.

3. No maximum CLTV( combined loan to value).

4. No minimum credit score requirement.

5. Max Loan : $417K. 

6. Refinance Cash out/Equity mortgages- now allowed up to 80%.

7. Self employed borrowers -Most recent 1yr of  tax returns.

8. Salaried borrowers- 1 month pay stub.

9. Borrowers that don't have Fannie Mae & Freddie Mac loans will be considered with credit scores down to 580; max LTV is 80%.