Fannie Mae Notice Extension of the Home Affordable Refinance Program
March 2nd, 2010
Fannie Mae has issued the following Notice titled, Extension of the Home Affordable Refinance Program.
Extension of the Home Affordable Refinance Program
On March 1, 2010, the Federal Housing Finance Agency announced the extension of the Home Affordable Refinance Program (HARP) to June 30, 2011 to support market stability and encourage greater adoption of the program.
This program is for borrowers who have demonstrated an acceptable payment history on their mortgage but, due to a decline in home prices or where mortgage insurance is not available, have been unable to refinance to obtain a lower payment or move to a more stable product.
Accordingly, lenders may continue to apply the HARP flexibilities to loans originated under Refi Plus™ and DU Refi Plus™ provided the note date is on or before June 30, 2011 and the loans are delivered to Fannie Mae no later than October 31, 2011.
Lenders who have questions should contact their Customer Account Team.
To view the online Notice, please click here.
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.