December 2013: FHFA’s Top 10 HARP Refinance States

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Information about December 2013: FHFA’s Top 10 HARP Refinance States
Real Estate

Published on March 4, 2014

Author: MortgageHomeBase

Source: slideshare.net

Description

The Federal Housing Finance Agency (FHFA) released its most recent HARP Refinance Activity report for December 2013. Ending the year of 2013, Florida had the highest HARP Refinance volume along with the most underwater borrowers with LTV’s greater than 125 percent.

Underwater homeowners nationwide have been able to reap the benefits of the unique refinance program based on the nation’s current negative equity standing since the crash of the housing market in 2007. During the third quarter of 2010, the nation’s negative equity position in regards to the number of negative equity properties; there were 11.6 million, in comparison to the most recent report in the third quarter of 2013 there are now a total of 6.4 million. This is a 5.2 million decrease in negative equity properties for the nation in a 3 year span.

The top 10 states highest in HARP refinance loans reported for the month of December 2013 are:

1) Florida – 3,084
2) California – 2,648
3) Michigan – 2,120
4) Illinois – 1,863
5) Georgia – 1,734
6) Ohio – 1,472
7) Arizona – 1,167
8) Texas – 989
9) New Jersey – 888
10) North Carolina – 871

#1) Florida HARP Refinance Florida’s HARP Refinance total loan for the month of December 2013 was 3,084 with 1,005 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of FL has a total of 281,323 HARP refinance loans completed; Year-to-Date December 2013 was 105,636. Here are the following breakdown of Florida’s HARP Loan LTV distributions for the month of December: 80% - 105% = 1,390 105% - 125% = 689 Greater than 125% = 1,005 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater FL homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Florida HARP Program.

#2) California HARP Refinance California’s HARP Refinance total loan for the month of December 2013 was 2,648 with 427 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of CA has a total of 414,295 HARP refinance loans completed; Year-to-Date December 2013 was 112,968. Here are the following breakdown of California’s HARP Loan LTV distributions for the month of December: 80% - 105% = 1,630 105% - 125% = 591 Greater than 125% = 427 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater CA homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the California HARP Program.

#3) Michigan HARP Refinance Michigan’s HARP Refinance total loan for the month of December 2013 was 2,120 with 453 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of MI has a total of 203,930 HARP refinance loans completed; Year-to-Date December 2013 was 59,220. Here are the following breakdown of Michigan’s HARP Loan LTV distributions for the month of December: 80% - 105% = 1,281 105% - 125% = 386 Greater than 125% = 453 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater MI homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Michigan HARP Program.

#4) Illinois HARP Refinance Illinois’ HARP Refinance total loan for the month of December 2013 was 1,863 with 427 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of IL has a total of 198,716 HARP refinance loans completed; Year-to-Date December 2013 was 51,461. Here are the following breakdown of Illinois’ HARP Loan LTV distributions for the month of December: 80% - 105% = 1,024 105% - 125% = 412 Greater than 125% = 427 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater IL homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Illinois HARP Program.

#5) Georgia HARP Refinance Georgia’s HARP Refinance total loan for the month of December 2013 was 1,734 with 307 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of GA has a total of 149,256 HARP refinance loans completed; Year-to-Date December 2013 was 53,536. Here are the following breakdown of Georgia’s HARP Loan LTV distributions for the month of December: 80% - 105% = 1,049 105% - 125% = 378 Greater than 125% = 307 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater GA homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Georgia HARP Program.

#6) Ohio HARP Refinance Ohio’s HARP Refinance total loan for the month of December 2013 was 1,472 with 135 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of OH has a total of 112,530 HARP refinance loans completed; Year-to-Date December 2013 was 36,078. Here are the following breakdown of Ohio’s HARP Loan LTV distributions for the month of December: 80% - 105% = 1,067 105% - 125% = 270 Greater than 125% = 135 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater OH homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Ohio HARP Program.

#7) Arizona HARP Refinance Arizona’s HARP Refinance total loan for the month of December 2013 was 1,167 with 232 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of AZ has a total of 148,396 HARP refinance loans completed; Year-to-Date December 2013 was 42,006. Here are the following breakdown of Arizona’s HARP Loan LTV distributions for the month of December: 80% - 105% = 645 105% - 125% = 290 Greater than 125% = 232 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater AZ homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Arizona HARP Program.

#8) Texas HARP Refinance Texas’ HARP Refinance total loan for the month of December 2013 was 989 with 13 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of TX has a total of 70,003 HARP refinance loans completed; Year-to-Date December 2013 was 23,393. Here are the following breakdown of Texas’ HARP Loan LTV distributions for the month of December: 80% - 105% = 931 105% - 125% = 45 Greater than 125% = 13 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater TX homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the Texas HARP Program.

#9) New Jersey HARP Refinance New Jersey’s HARP Refinance total loan for the month of December 2013 was 888 with 102 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of NJ has a total of 90,203 HARP refinance loans completed; Year-to-Date December 2013 was 24,033. Here are the following breakdown of New Jersey’s HARP Loan LTV distributions for the month of December: 80% - 105% = 599 105% - 125% = 187 Greater than 125% = 102 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater NJ homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the New Jersey HARP Program.

#10) North Carolina HARP Refinance North Carolina’s HARP Refinance total loan for the month of December 2013 was 871 with 25 borrowers with a loan-to-value (LTV) greater than 125%. Since inception, the state of NC has a total of 76,825 HARP refinance loans completed; Year-to-Date December 2013 was 23,161. Here are the following breakdown of North Carolina’s HARP Loan LTV distributions for the month of December: 80% - 105% = 757 105% - 125% = 89 Greater than 125% = 25 The Home Affordable Refinance Program was established in March of 2009 by the Obama Administration and set forth by the Federal Housing Finance Agency (FHFA) to help boost the nation’s economic recovery. All eligible and severely underwater NC homeowners have until December 31, 2015 to take advantage of the program. Click HERE for more information about the North Carolina HARP Program.

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