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. The changes included lifting the previous 125 percent loan-to-value (LTV) cap on HARP refinancings, and releasing lenders who sign off on a refinanced loan from some legal liabilities associated with the original loan. The new HARP guidelines also eliminated some risk-based fees if homeowners refinanced into shorter-term mortgage...