HARP 2.0 definition

HARP 2.0 means the Home Affordable Refinance Program 2.0.
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HARP 2.0 means the Home Affordable Refinance Program authorized by sections 101 and 109 of the Emergency Economic Stabilization Act of 2008, as amended by section 7002 of the American Recovery and Reinvestment Act of 2009.
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Examples of HARP 2.0 in a sentence

  • When FHFA announced HARP 2.0 in October 2011, lenders had completed 987,910 HARP refinances – the majority of which were for loans with LTVs between 80% and 105%.

  • Fannie Mae has completed 1,431,927 refinances – 60% of which were completed under HARP 2.0. Freddie Mac has completed 1,027,402 refinances – 56% of which were completed under HARP 2.0. FIGURE 3.

  • They will also attempt to reduce closing costs through greater use of automated valuation models in place of property appraisals.In HARP 2.0, the GSEs are providing incentives to lenders to refinance homeowners by waiving certain representations and warranties the lenders had made on the original loans.

  • FHFA’s initial HARP 2.0 modifications incorporated five important changes to the HARP- eligibility criteria.

  • When FHFA announced HARP 2.0, it projected that the changes to the program would approximately double the refinance volume to a total of 1.9 million by the program’s end date of December 31, 2013.

  • HARP 2.0 considers early life exposure adjustment factors when calculating chronic, acute, and carcinogenic health risk.

  • A new lender refinance refers to a borrower obtaining a loan from a third-party lender that does not currently service the borrower’s loan.Beginning with HARP 2.0, FHFA started facilitating regular meetings among the Enterprises, lenders, and mortgage insurers.

  • As mentioned previously, HARP 2.0 attempts to reduce closing costs through greater use of automated valuation models in place of property appraisals.

  • After receiving feedback from stakeholders, FHFA and the Enterprises announced several additional changes to HARP 2.0 in 2012 and 2013.

  • MFA’s Agency MBS portfolio has limited exposure to HARP 2.0: The majority of MFA’s securities that could be affected have underlying mortgages that are currently in their interest-only period (limiting the incentive to refinance into a fully amortizing 30-year fixed rate mortgage).

Related to HARP 2.0

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