HARP program extended through June 2012

Refis of Fannie, Freddie loans don't require additional PMI

Fannie Mae and Freddie Mac will continue to refinance qualifying borrowers who have lost equity in their home without requiring additional mortgage insurance for another year under the Home Affordable Refinance Program, or HARP.

HARP, which was scheduled to expire June 30, will stay open for business for another year, and Freddie Mac will exempt the refinancings from recently announced price increases, the Federal Housing Finance Agency said in announcing the one-year extension.