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 […]
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 […]
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 […]
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 […]
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. […]
The gov recently announced some great changes to the Home Affordable Refinancing Program (HARP). The updates to the program are aimed at those who have spent the years since the recession began keeping up with their mortgage payments as others walked away (read why “walking away” is a misnomer here and here) from […]