Servicers Not Pushing HARP Refis; Volume Tied Primarily to Rate Changes, GSEs Say
August 20, 2009
The Obama administration’s Home Affordable Refinance Program added some momentum to an already burgeoning refinance market in 2009, but activity in the program has been subject to the same interest-rate trends that drive the refi business in general. Fannie Mae and Freddie Mac have financed nearly 2.9 million refinance loans through the first seven months of 2009, but the HARP program...