Housing and Economic Recovery Act

Questions Dog GSE Refinance Initiative 

While the Administration’s new Homeowner Affordability and Stability Plan has had press gaggles focused primarily on issues surrounding loan modifications since its announcement earlier this week, the newly-minted HASP faces some tough questions around just how the GSEs expect to manage a refinance program that allows borrowers with an LTV between 80 and 105 percent to refinance into a new loan without additional credit enhancement.