On Monday, October 24, 2011, Obama, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced several enhancements to the Home Affordable Refinance Program (HARP) to attract more eligible borrowers who may benefit from refinancing their mortgage.
We are assessing the announcement and impacts. We will provide more information as it is received from the Agencies.
The industry expects more operational details for HARP Phase II to be published by the FHFA, Fannie Mae and Freddie Mac on November 15, 2011.
As a reminder, we are currently doing HARP Loans under both Fannie Mae’s DU Refi Plus® and Freddie Mac’s Relief Refinance® Programs.
For more information regarding this program or if you have questions regarding the refinancing of your home call Don today at (417) 844-5370.