About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under HARP Program Loans or The Obama Refinance Program, Upside Down (Underwater) Mortgage Programs

With so few banks fully participating in the HARP 2.0 program we are getting reports that the authorized lenders who are participating are beginning to experience delays in underwriting because of high demand for the program. Sources within participating banks tell us that underwriters who used to be able to complete a review of a file a few days after submission are now sometimes taking a couple of weeks to even get to files because of the volume being submitted. They expect the wait times to get longer an longer in the months to come as more borrowers become aware of the newly rolled out program.

We expect a similar underwriting traffic jam for FHA streamlines in June when the new FHA streamline program begins.

If you have a conventional loan backed by Fannie or Freddie and are interested in the HARP 2.0 program or if you have an FHA loan and are interested in the new FHA streamline program contact us in the sidebar right away to be connected with a participating authorized lender. The sooner you can start the process the better because as awareness of the program increases so will underwriting turn times.

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