HARP Represents Two Percent of October Refinancing

Dec 16, 2016

Borrowers completed nearly 4,000 refinances in October through the Home Affordable Refinance Program (HARP), according to new data from the Federal Home Finance Agency (FHFA). This represented two percent of total refinance volume for the month.

The FHFA also reported that four percent of the loans refinances through HARP had a loan‐to‐value ratio greater than 125 percent. During the first 10 months of this year, borrowers with loan‐to‐value ratios greater than 105 percent accounted for 21 percent of the volume of HARP loans.

Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of June 30.

About the author

Phil Hall

Link copied

Published

Dec 16, 2016

People On The Move

Figure Technology Solutions Names Michael Tannenbaum New CEO

Founder and former CEO, Mike Cagney, assumes the role of executive chairman.

Figure Technology Solutions (FTS), parent company of five-days-to-close HELOC originator, Figure Lending, announced today the appointment of Michael Tannenbaum as chief executive officer (CEO) and a member of the Board of Directors. Co-founder and previous CEO of the company...

Analysis and Data

Monthly, Yearly Jump In New Home Sales In March

The growth coincides with roughly a quarter of builders saying they cut prices last month.

Sales of newly built, single-family homes in March jumped 8.8% month-over-month, reaching a seasonally adjusted annual rate of 693,000 units compared to February's revised 637,000 units, according to data released jointly today by the U.S. Census Bureau and the Department of...