Skip to main content

FHFA Extends HARP, Modifies Refinance Program

Phil Hall
Aug 17, 2017
The level of mortgage homeowners with tappable equity has reached a record peak, but tax code changes could have an impact on this market, according to a data analysis from Black Knight Inc.

The Federal Housing Finance Agency (FHFA) had modified the High LTV Streamlined Refinance program designed to help borrowers who are current on their mortgage but are unable to refinance because their loans have loan-to-value (LTV) ratios that exceed the maximum limits set by Fannie Mae and Freddie Mac.
The FHFA established an eligibility date which makes the program available for loans originated on or after Oct 1, 2017. With today’s announcement, Fannie Mae and Freddie Mac will modify the structure of future credit risk transfer (CRT) transactions to accommodate the High LTV Streamlined Refinance program by allowing the newly refinanced loans to return to the reference pools in place of loans that prepaid. According to the FHFA, this will help preserve credit loss protection on the loans without unwinding the protection paid for through CRT transactions.
The FHFA also announced that the HARP program will be extended through Dec. 31, 2018, in order to provide an additional refinance option for borrowers with high LTV ratios.
Aug 17, 2017
ATTOM Announces Addition Of NMLS Data

Provides access to the names and NMLS IDs for those originating residential mortgage loans.

Industry News
Oct 05, 2022
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022