Tag Archives: Senate Republicans may be on board with more HARP expansions

Senate Republicans are considering some Democrat proposals to expand refinancing to even more Fannie Mae and Freddie Mac borrowers. The Federal Housing Finance Agency expanded HARP last fall to reduce upfront fees, eliminate a cap on negative equity and reduce some repurchase risk for servicers of the original home loan to allow for more refinancings. Major banks finished installing the program in March, but a major refinancing surge remains elusive. The Senate Banking Committee held a hearing Thursday on a bill from Sens. Robert Menendez, D-N.J. and Barbara Boxer, D-Calif., […]