Federal Housing Finance Agency acting director Edward DeMarco stated the Home Affordable Refinance Program is a one-time benefit intended for borrowers with pre-crisis rates.
DeMarco addressed HARP during a post-speech question-and-answer session at the Securities Industry and Financial Markets Association Conference on Thursday.
"When one lays out a set of parameters for a program like this and tells the market ‘these are the rules,’ these are the rules,"DeMarco stated.
Although HARP 2.0 continues to show progress in part due to the efforts of financial companies, DeMarco wants to steadily press forward.
"We want to see real continued focus and attention on it," DeMarco said.