The recent move to expand eligibility and lower fees for the Home Affordable Refinance Program (HARP) has resulted in a near doubling of program refinancings since January, according to new data from the Federal Housing Finance Agency (FHFA).
The FHFA reported June 1 that more than 180,000 Fannie Mae and Freddie Mac mortgages were refinanced under the HARP program in the first quarter of 2012, compared to approximately 93,000 home loans in the fourth quarter of 2011.
The agency attributed the sharp increase in volume to program changes announced in October. The changes included removal of the loan-to-value (LTV) ceiling ...
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