Industry NewsMortgage

HARP refinancings take off

Share of loans going to underwater borrowers also picking up
Published on Jul 17, 2012

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by CareyBot

As mortgage rates continued to hit new depths, the number of refinancings completed through the Obama administration's mortgage refinance program more than doubled year over year in May, according to a monthly report from the Federal Housing Finance Agency.

Last fall, the FHFA, which regulates government-sponsored enterprises Fannie Mae and Freddie Mac, announced several changes to the Home Affordable Refinance Program (HARP) in an effort to boost participation.

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