After more than five years of operation, Home Affordable Refinance Program activity is expected to decline. However, industry analysts suggest that if the Federal Housing Finance Agency continues to implement changes requested by lenders, HARP activity could remain strong through 2014. “This deep cooperation and aggressive policy action are key reasons why HARP burnout has been elusive so far and suggests HARP risk is likely to remain elevated despite the interest rate sell-off, in our view,” analysts at Barclays Capital said late last week. Analysts at Bank of America Merrill Lynch project...