Home Affordable Refinancing Program revamped to boost refis

Lenders shielded from claims associated with original loan

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

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.