Ten Million Borrowers Remain Eligible to Lower Rates

NationalMortgageNews tells MHProNews Lender Processing Services (LPS) estimates 2.6 million Fannie Mae and Freddie Mac loans may yet be eligible for financing through the Home Affordable Refinance Program (HARP). 50 percent of these have credit scores of 720 or above, including 670,000 with interest rates above six percent. Since the inception of the HARP 2.0 program Jan. 2012, 790,600 HARP refinances have been complete, including 160,400 GSE loans with loan-to-value ratios above 125%. Mortgage and analytics firm LPS estimates another ten million borrowers may be eligible for traditional financing.

(Image credit: realtor)

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