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Federal National Mortgage Association Message Board

  • ravens9111 ravens9111 Mar 15, 2013 12:22 PM Flag

    HARP

    not sure if you know what the HARP is, but that is the main driver for profits i guarantee it. the new Sec. of the Treasury Lew said in an interview yesterday that the plan is to expand HARP even more. not only will this expand the pool of borrowers, but the timeline will be extended for at least another year. the profits will keep rolling in, i guarantee it.

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    • RAVENS, HARP means Home Affordable Refinance Program suggested by President Obama since 2009, allowing

      1/ Underwater mortgage with loan-to-value up to 125% but Borrower must be still in payment to refinance with lower rates. The mortgages must be owned by Fannie or Freddie

      2/ Last year, the program allowed unlimited loan-to-value

      3/ This year, in March, Obama Administration announced to extend the program one more year

      4/ At the same time, President Obama planned to expand the program to the underwater mortgages which are NOT owned by Fannie or Freddie.

      5/ As soon as # 4 stated above effective, we will see huge profits from Fannie & Freddie as they take mortgages from private Lenders through refinancing. With the low rates, and improved economy, those mortgages will stay with Fannie or Freddie for a while.

      And that will add more profits for the 2 Companies.

    • Congrats this is probably the best post for today

      Sentiment: Strong Buy

 
FNMA.OB
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