IEmergent sees refi surge in 2009

Stimulus bill, foreclosure initiative bode well for lenders

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Mortgage market research firm iEmergent projects that the $787 billion stimulus bill and the Obama administration’s new foreclosure prevention initiative could boost mortgage loan refinancings up by 55 percent in 2009.

The Des Moines, Iowa-based forecasting firm is also forecasting a slight increase in purchase mortgage originations, compared to the company’s previous forecast for 2009-2013.