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Volume 2014 - Number 6

February 13, 2014

Obama Administration Remains Aloof to HARP 3.0 Expansion, Legislation ‘Doubtful’

The idea of expanding the Home Affordable Refinance Program may never die, but comments this week show the Obama administration has little interest in reviving it. During a question-and-answer event this week sponsored by Politico, Department of Housing and Urban Development Secretary Shaun Donovan made it clear that HUD will not push for an expansion of HARP. While more could be done for non-agency borrowers, he said that would require legislation. “I think we should continue to look at everything we are doing in marketing it … but I think this is something we ought to continue to look at on the legislative front,” said Donovan. An industry lobbyist said...

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