The First Step in this process is to see if you loan is truly owned by Fannie Mae or Freddie Mac. Follow the links below to each of their web sites, where you can research this question.
Does Fannie Mae own my loan:
Fannie Mae Loan Lookup
Some helpful hints, if after you type it in, and it doesn't match, try playing with the address, i.e. if you live on North Main, try taking out the "north" or just putting in "N".
Does Freddie Mac own my loan:
Freddie Mac Loan lookup
So what happens if neither Freddie or Fannie own's my loan?
Well all hope is not lost, you could have a VA (vetern's administration) loan, or a RD (rural development) loan or a FHA (Federal Housing Authority Loan). Each of these government agencies have their own type of Streamline refinance program, that will allow you to refinance into a lower interest rate with out having any equity or massive amounts of negative equity.
VA Loan: The refinance is called a IRRL or Interest Rate Reduction Loan (No appraisal required).
Link here to apply for a VA IRRL Loan
RD Loan: Rural Development Streamline Loan (No appraisal required, but home inspection is).
Link here to apply for a RD Streamline Loan.
FHA Loan: FHA Streamline Loan (No appraisal required)
Link here to apply for FHA Streamline Loan.