HARP refinance loans pass 3 million.

Position:NEWS ROOM - Home Affordable Refinance Program - Brief article

On Feb. 10, the government announced that the Home Affordable Refinance Program (HARP) had hit an important milestone: 3 million HARP refinances had been originated.

"Three million HARP refinances is an important accomplishment and represents real help to families and communities still struggling as a result of the mortgage crisis," said Federal Housing Finance Agency Director Mel Watt.

The HARP program was first established in April 2009 by FHFA and the Department of the Treasury as a component of the Making Home Affordable program. But the program got off to a slow start before changes were made. Those changes kicked in during November 2011. They included allowing homeowners with > 125 percent loan-to-value (LTV) ratio to participate in...

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