Activity in the Fannie Mae/Freddie Mac refinance program for underwater borrowers continued to decline in the fourth quarter of 2015, according to the Federal Housing Finance Agency. The FHFA said the two government-sponsored enterprises securitized 21,079 loans originated under the Home Affordable Refinance Program during the fourth quarter. That was down 18.4 percent from the previous quarter and brought year-to-date production to just 110,113 loans, a 48.2 percent decline from 2014. HARP accounted...[Includes one data table]