The Future of HARP; Reverse Mortgages Cut by Wells Wholesale; Farmland Price Bubble; HSBC Suspends Foreclosures; Project Bravo

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Posted To: Pipeline Press

Merrill Lynch/BofA's analysts took a look at HARP, and whether or not it should be extended. The FHFA has a number of choices regarding HARP. "We see the following four broad choices for FHFA regarding HARP: Let the program expire, extend the program as is until the HAMP expiration date (December, 2012) with some minor operational adjustments, extend the program for a short period (6 months) and require lenders to demonstrate that they have taken action to improve the effectiveness of the program before they extend it for longer (another 1 year), or extend and expand the program as recommended by MBA." Merrill evaluated each of the options and looked at the key drivers for each of these choices. "We think that the simple extension is the most likely scenario but from the policy perspective...(read more)

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Source: www.mortgagenewsdaily.com

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