FHFA Announces Further Expansion of HARP 2.0 After Exceeding Expectations, Rejects GSE Principal Reduction
August 3, 2012
Encouraged by the performance so far of the recently revised Home Affordable Refinance Program, the Federal Housing Finance Authority announced this week it is working to expand the pool of borrowers eligible to refinance through HARP by aligning Freddie Mac policies with Fannie Maes. The agency announced the additional tweaks to HARP at the same time it said it would not sanction a Treasury Department-endorsed effort to allow the two government-sponsored enterprises to write down mortgage principal as part of loan modifications. The FHFA said that Freddie will soon issue...