Posted by: in Home Mortgage Online, tags: 125 Ltv, Excerpt, Fannie Mae, Fannie Mae And Freddie Mac, Freddie Mac, Government Sponsored Enterprises, Harp Program, Loans, Nbsp, O Reilly, Program Revisions, Proportion, Ratios, Refinancing, Risk Brian O?Reilly wrote an interesting post today on
Here?s a quick excerpt
Refinancing through the revised Home Affordable Refinancing
Program (HARP 2.0) grew to a 33 percent share of all Fannie Mae and Freddie Mac
refinancing in June, surging from the 20 percent share the program posted in
April. ?The proportion of those
refinancings with very high loan to value (LTV) ratios also increased significantly.
?
It appears that the changes made to the HARP program, removing
the 125 percent LTV ceiling, reducing and/or eliminating some fees, and easing
lender risk, have worked.? The program revisions
were announced last fall but did not really begin to roll out until early this year.
During June Freddie and Fannie refinanced a total of 382,539
loans.? HARP refinancings for the month
numbered 125,866.? While the HARP loans were
fairly evenly divided between the two government sponsored enterprises (GSEs),
Freddie Mac did less refinancing overall and slightly more HARP loans so had a much
higher share of those loans, 43.7 percent compared to 26.1 percent at Fannie
Mae.
The total of HARP [...]
Read the rest of this great post here
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