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THE GOOD AND BAD WITH HARP
“The Good and Bad with HARP”
I consider myself a pretty savvy mortgage guy. I know more about different mortgage product than most in this business. Having said that, it is not easy getting these HARP loans done. Every day is a new learning process.

First, not every lender is participating, the ones that are participating all have different rules. There is no such thing as one set of rules. It is tough enough to get one of these loans done, that doesn’t have existing mortgage insurance.
When a loan that is owned by Fannie Mae or Freddie Mac and has mortgage insurance, then the fun begins. There are many different mortgage insurance companies and lenders don’t all use the same companies. Again, different lenders, that use different mortgage insurance companies, have different loan to value guidelines.
I suppose we should consider ourselves pretty lucky, that we are getting 8 out of 10 HARP loans approved, but my goal is always 100%.
 
Senate Hearing Fields Praise, Criticisms About New HARP
By: Ryan Schuette
Lawmakers seated on the Senate Banking Committee convened a hearing Wednesday to determine just how radically draft legislation should lift barriers to refinance ... more

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