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Home » Store » News » Banks Said to Be Seeking Clarifications, Possibly More Changes to Fannie/Freddie HARP Program

Banks Said to Be Seeking Clarifications, Possibly More Changes to Fannie/Freddie HARP Program

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Bank of America and other large mortgage servicers are seeking a meeting with the Federal Housing Finance Agency to address concerns about the latest version of the Home Affordable Refinance Program for underwater Fannie Mae and Freddie Mac borrowers. Since HARP was first launched in 2009, it has failed to meet expectations. The government quickly expanded the program to include loans with current loan-to-value ratios of up to 125 percent, which accounted for a very small share of business. Under HARP 2.0, which went into effect this month but won’t be fully up to speed until the second quarter of...
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