Re-financing Home Mortgage

[stikx]

Was your loan not through Fannie Mae? My brother's mortgage is through PNC, which is apart of the Fannie Mae network.

They refinanced him from 6.xx% to 5.xx% (I forgot the exact APR); they basically streamline refinance and you pay the closing cost or put it on the loan.

What's interesting is that other banks have called to offer better rates and the same process. I guess banks are being notified within the Fannie Mae network once you are in the system.