The FHFA (Federal Housing Finance Authority, parent of Fannie Mae and Freddie Mac) recently announced a new streamlined refinance program for homeowners without a lot of equity, as well as an extension to the HARP program.
These are related announcements as HARP is the current solution offered to certain homeowners that […]
Tracy Mooney, Senior Vice President of Freddie Mac put out an insight on the mortgage giant’s blog today discussing some common misconceptions about the HARP program. Here is the link, check it out for the top 9 myths about HARP (such as myriad of ideas people have as to why they do not qualify for […]
Edward DeMarco, director of the Federal Housing Finance Agency (FHFA), has stated the extremely popular HARP refinance program has been extended through 2015. This is good news as it will allow even homeowners to benefit from lower rates and payments.
Before this the program was set to expire at the end of […]
With more than 11 million homeowners underwater on their mortgages, 2008’s HARP (Home Affordable Refinance Program) mortgage has been updated to allow more homeowners to refinance their mortgages, taking advantage of today’s historically low interest rates. AKA: HARP 2.0…
The first edition of HARP was a great idea, in theory anyways. […]
Towards the end of 2013 Fannie Mae quietly released an update to their Desktop Underwriter (DU) underwriting system, the system used to underwrite the vast majority of Conventional mortgages nationwide.
Much of the update is inconsequential, it mostly had to do with updating the software to comply with the new QM […]
The Federal Housing Finance Agency (FHFA), overseer of mortgage giants Fannie Mae and Freddie Mac (GSE’s), has decided to leave the maximum loan limits for loans they guarantee unchanged for 2014. The maximum conforming loan limit will remain at $417,000.
As has been the case since 2008 some areas considered “high […]
The ‘Responsible Homeowner Refinancing Act of 2013’ has been (re)introduced in the US Senate. This bill’s aim is to help homeowners that are not otherwise eligible to refinance through another program (such as HARP or Home Affordable Refinance Program) to take advantage of today’s historically low rates.
Originally introduced last year […]
Rates have been going up, but why is that and what will happen next?
Many of you have noticed the stock market has been on a tear. As investments are drawn from the Bond market to chase gains in the hot stock environment, pressure is being put on bonds. The Fed has been buying bonds, […]
Good news. The S&P Case-Shiller Home Values Index, for the second month in a row, gave us a positive reading. Admittedly, it’s a small positive reading (up 0.2% in the February and up 0.1% in the March 20-major city readings) but even small is significant here. This is one of the most […]
The Obama administration released new program guidelines in April which, once implemented, will help people with federal insured mortgages – that are NOT eligible for a HARP 2.0 refinance because their loans is not backed by Fannie Mae or Freddie Mac – refinance into a lower rate/payment loan. The white house is estimating […]