HARP Now Expected to Reach Twice as Many Homeowners

Filed under: ,

By Jon Prior

The expanded Home Affordable Refinance Program will likely reach more underwater borrowers than its architects originally thought.

“We said we would double the number from what we’ve already done under HARP, which would mean we’d do another 900,000 under the expanded program. I think we’re actually trending above that now,” said Andrew Bon Salle, head of the Fannie Mae underwriting and pricing group, in an interview.


The Federal Housing Finance Agency eased HARP eligibility requirements last year for Fannie Mae and Freddie Mac mortgages. It reduced upfront fees, eased buyback risk and eliminated the 125 percent loan-to-value ratio ceiling. Most banks implemented the changes in March.

Read more on this story at HousingWire.

More on AOL Real Estate:
Find out how to
calculate mortgage payments.
homes for sale in your area.
foreclosures in your area.
Find homes for rent in your area.

Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.


Permalink | Email this | Comments

Source: http://realestate.aol.com/blog/2012/06/25/harp-architects-expect-to-reach-1-million-more-homeowners/

cooperative (co-op) title search collection contingency first mortgage assessor exclusive listing

Comments are closed.