Monday June 11 is the day the Federal Housing Administration’s new streamline refinancing option launches. (Lenders, start your engines.) Meanwhile, mortgage bankers and brokers are still busy writing as many new HARP 2.0 loans as humanly profitable. (See what happens when you remove an LTV cap on a Fannie Mae/Freddie Mac loan.) At the same time, purchase money applications are picking up as well. (Thanks to continued, ultra low mortgage rates.) And we’re beginning to hear anecdotal stories that some firms are actually outsourcing their HARP production, concentrating on purchase money mortgages instead. Truth or fiction?
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