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08/13/2009 FHFA: F&F Refi's Volume on the Rise

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Mike Kennedy, Aug 13, 2009.

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  1. Mike Kennedy

    Mike Kennedy Elite Member

    95
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Federal Housing Finance Agency Report Shows Refinance
    Volumes on the Rise for Fannie Mae and Freddie Mac
    More than 2.9 Million Loans Refinanced
    Washington, DC – Fannie Mae and Freddie Mac refinanced more than 2.9 million mortgage
    loans in 2009 through July of this year. Since the inception of the Making Home Affordable
    Refinance Program (HARP) in April, Fannie Mae and Freddie Mac refinanced almost 1.9

    million mortgage loans through July.


    “This report shows that more than 190,000 homeowners that are current in their mortgage

    payments have been assisted through the GSE streamlined refinance process,” said Lockhart.

    Importantly, over 60,000 borrowers with mortgage loans that exceed 80 percent of the house

    value up to 105 percent have been refinanced.

    Under HARP, borrowers whose loan-to-value (LTV) ratio is above 80 percent up to 105
    percent are able to refinance without added mortgage insurance requirements, a previous key

    barrier to refinancing.

    http://www.fhfa.gov/webfiles/14764/FHFARefiRpt81309F.pdf
     
    Last edited: Aug 13, 2009
  2. Mike Kennedy

    Mike Kennedy Elite Member

    95
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
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