FHFA: Hard Hit States Taking Advantage of HARP

Refinancingrnthrough Freddie Mae and Fannie Mae jumped sharply in August as homeowners continuedrnto take advantage of record low rates.  Therntwo government sponsored enterprises (GSEs) refinanced 420,021 loans during thernmonth, up from 356,091 in July.  138,678rnof the loans were refinanced through Freddie Mac and 281,343 through FanniernMae.  So far in 2011 there have beenrn2,945,844 refinances completed through the two GSEs.</p

Loans throughrnthe Home Affordable Refinance Program HARP also increased, but only slightly,rnfrom a combined total of 96,371 in July to 98,900.  There have been 1.64 million HARP refinancingsrnsince the program began in April 2009. rnIn late 2011 the Federal Housing Finance Agency (FHFA) announced “enhancements”rnto the program in hopes of encouraging more refinancing of homes that werernunderwater with their mortgages.  Sincernthe first of 2012 618,217 homeowners have taken advantage of the revisedrnprogram…

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