Lenders within 1-3 weeks of starting new HARP 2 loans.
HARP
Lenders within 1-3 weeks of starting new HARP 2 loans.
Hype from Monday’s HARP 2.0 announcement about making it easier for underwater homeowners to refinance is that it will help the economy and the housing market. It will definitely help a lot of borrowers, but will it help the broader economy? Below is a roundup of views from this week. HARP 2 is a good
The important condition of HARP is that it only refinances existing FNMA/FHLMC mortgages. The reasoning is simple: How could these entities be taking on increased risk if they are simply refinancing the same mortgages with the same loan amounts at lower interest rates to the borrowers? A lower interest rate and payment is less burden
Fixed income portfolio manager David Schawel is a credible voice on mortgage backed securities (and a great follow on Twitter), and he did a quick investment perspective on today’s revisions to the Home Affordable Refinance Program. Good read for anyone wrapping their head around this. Also below is a link to the consumer version I
[BELOW ARE GUIDELINES AT A GLANCE. AND HERE’S A HARP GUIDELINE UPDATE APRIL 12, 2013] Homeowners too far underwater to refinance up to now have new hope today. The Federal Housing Finance Agency (FHFA) today announced key changes to their refi assistance program called Making Home Affordable—or sometimes also called Home Affordable Refinance Program (HARP).
Today’s must-read links… -New Government-Assisted Refi Program Coming (MarketWatch) -CHART: Areas With Most-Underwater Homes (NewYorkTimes) -The Eurozone Crisis Explained in Brief (RobertSinn) -Kids With Huge Jobs At Treasury (BusinessWeek) -UK Shifting from ARMs to 30yr Fixed? (FT) -Is Teaching A Profession (Weakonomics)