Industry NewsMortgage

Home Affordable Refinancing Program revamped to boost refis

Lenders shielded from claims associated with original loan
Published on Oct 24, 2011

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In an attempt to boost participation in the Obama administration's mortgage refinance program, Fannie Mae and Freddie Mac will release lenders who sign off on a refinanced loan from some legal liabilities associated with the original loan.

Mortgage market analysts view the waiver of so-called seller servicer "representations and warrants" on Home Affordable Refinancing Program (HARP) loans as the most significant of a series of changes announced today by Fannie and Freddie's regulator, the Federal Housing Finance Agency.

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