• Through the second quarter, borrowers with LTV ratios greater than 105 percent accounted for 43 percent of the volume of HARP loans.
• Through the second quarter, 18 percent of HARP refinances for underwater borrowers were for 15- and 20-year mortgages, which build equity faster than traditional 30-year mortgages.
• HARP continued to account for a substantial portion of total refinance volume in certain states. Through the second quarter, HARP refinances represented 59 percent of total refinances in Nevada and 50 percent of total refinances in Florida, more than double the 21 percent of total refinances nationwide over the same period.
For more information, visit www.fhfa.gov.
Continue Reading 1 2
Copyright© 2013 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com