The Federal Housing Finance Agency (FHFA) recently announced that it will extend its Home Affordable Refinance Program (HARP) while also modifying its streamlined refinance program for borrowers with high loan-to-value (LTV) ratios.
Loans originated by Fannie Mae and Freddie Mac on or after Oct. 1, 2017, will be eligible for the FHFA’s “High LTV Streamlined Refinance” program.
When announced on Aug. 25, 2016, the new program was to have no eligibility cut-off dates. Get some insight why the FHFA decided to implement one as part of its modifications to the offering.