Fannie Mae and Freddie Mac officially began accepting HARP 2.0 loans this week. On the ground just a handful of authorized lenders have begun testing the waters with the new program. Some lenders are allowing refinances above the 125% loan to value. Other lenders are allowing mortgage insurance to transfer for the first time. But the reality is that the adoption of HARP 2.0 is tentative at best so far. The general trend early on is that borrowers with conventional loans backed backed by Fannie Mae will have more luck than borrower with conventional loans backed by Freddie Mac. The hope is that over time more and more lenders will more aggressively adopt the new program but only time will tell. Contact us in the sidebar to learn more about the HARP 2.0 program or the other government-backed refinance programs that are available.
Comments Off on HARP 2.0 slowly comes out of the gate Posted by G.R.A. Admin on Tuesday, March 20th, 2012