*Painting A Very Clear Picture About HARP*
**Webinar Looks to Educate All**
***Will HARP II be the thing that restarts the mortgage industry? Probably not. However, HARP II does present a set of opportunities for lenders to help borrowers. So, what’s HARP II really all about? There’s a lot of misinformation out there so AllRegs will offer a training webinar entitled, “The HARP II Program,” Tuesday, May 22, 2012, from 2:00 p.m. to 3:30 p.m. Eastern Time. Registration is $265 per site, to educate the space. Here’s the details:
****The Home Affordable Refinance Program (HARP) was originally introduced as a part of the Making Home Affordable Program in March, 2009. The program had two outstanding advantages – it afforded someone who had worked hard to stay current the ability to refinance, and they were allowed to refinance their outstanding principal balance despite the fact that their property value may have be significantly “underwater” based on the fair market value. Servicers were still concerned about using the program as many of the people had loan-to-value ratios that far exceeded the 105% limit. The limit was raised to 125%, then to 140% of fair market value.
****In 2012, the HARP II program was announced to allow lenders to deliver HARP loans without a cap on loan-to-value ratios. Making changes to the LTV ratios is just one of the many changes to the revised HARP II program.
****During this 90-minute webinar, AllRegs will look at all of changes to this program and how they will impact those borrowers who were locked out of refinancing to a lower rate based on previous LTV restrictions. AllRegs Academy instructors Elana Lovoy and Pat Taylor will provide ideas on how to communicate this program to potential borrowers, analyze the risk and determine best practices for originating this type of loan program.
****Production and Servicing Managers, Risk Officers, Asset and Portfolio Managers, and any staff members responsible for early intervention of loans that may be at risk of default are encouraged to attend.