HARP refinancings of high LTV loans remained at elevated levels in August, according to a new report from the Federal Housing Finance Agency.
The number of refinancings of Fannie Mae and Freddie Mac loans with loan-to-value ratios above 105% was basically unchanged from July to August.
FHFA said recently that GSE seller/servicers refinanced 26,950 mortgages with LTVs above 125% in August, compared to 26,650 in July.
The government’s Home Affordable Refinancing Program streamlines refinancings of all GSE loans with LTVs above 80%.
Overall, lenders and servicers completed 98,885 HARP refis in August, which represented 24% of all Fannie/Freddie refinancings that month. In July, HARP refinancings comprised 27% of all GSE refinancings.
