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MICA: HARP Volume Up, Other Mod Programs in 2Q

AUG 30, 2013 12:35pm ET
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The members of the Mortgage Insurance Cos. of America did nearly $8 billion in Home Affordable Refinance Program workouts in 2Q13, up from $7.8 billion in 1Q13.

At the current pace, Genworth, MGIC and Radian will have done more HARP loans than they did for all of 2012, when they did $29.2 billion.

For the Home Affordable Modification Program, MICA members did $907 million in 2Q13 workouts, down from $1.2 billion in 1Q13. HAMP activity peaked in 2010, at $13.1 billion.

Other loan modification programs had volume of $1.1 billion for 2Q13, down from $1.2 billion in the first quarter. Both HAMP and the other mod program activities are behind their respective pace in 2012.

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