Goldman Sachs agrees to pay $3.15B in FHFA suit

Goldman Sachs agrees to pay $3.15B in FHFA suit

Settlement will resolve RMBS claims

It's settled: Principal reduction is smart policy

How the BofA settlement opened the door

Pavaso CEO: CFPB eClosing mortgage pilot “historic event”

Makes buying a home easier for all Americans
W S
Lending / The Ticker

Plan to spur refinancing activity stalls on bank fears

/ Print / Reprints /
| Share More
/ Text Size+

White House efforts to encourage widespread refinancing activity to help underwater homeowners are not picking up as much speed due to risk-shy banks, Bloomberg-BusinessWeek reported.

The report suggests 2.3 million borrowers with loans backed by Fannie Mae and Freddie Mac are eligible for the government's expanded Home Affordable Refinance Program.

Yet, banks that are stretched to capacity may be reluctant to refinance due to fears that borrowers are too risky. By May, 78,000 homeowners with underwater mortgages underwent HARP refinancing. That is well under estimates of how many could qualify, the report says.

Click here to read more.

kpanchuk@housingwire.com

Recent Articles by HousingWire Staff

Comments powered by Disqus