obama plan: OBAMA PLAN/ National Refinance Legislation Proposal
- 05/14/12 05:43 AM
Obama's proposal, the key points are as follows, many of which are actually pretty good. 1) Extend the HARP eligibility date to May 31st 2010. (The bill mentions that May 31st 2010 was chosen because most of the loans originated after this date already have a mortgage rate below 5%.) 2) The bill would direct the GSEs to require the same streamline underwriting process, and associated reps and warranties for new servicers (cross servicer) as they do for existing servicers (same servicer), removing some barriers to competition.
3) The bill would eliminate employment and income verification requirements, thereby … (0 comments)
Obama's proposal, the key points are as follows, many of which are actually pretty good.
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