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Mortgage Loan Modifications and Refinance Volume Increased in January

News release and data charts: “Fannie Mae and Freddie Mac completed more than 73,300 permanent mortgage loan modifications through January under the Administration’s Home Affordable Modification Program (HAMP). The Home Affordable Refinance Program, or HARP, also increased, as the percentage of total monthly refinance volume increased to nearly 12.7 of all refinancings in January. The data were released by Ed DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), as part of the agency’s monthly Foreclosure Prevention & Refinance Report, which is also submitted to Congress as the Federal Property Manager’s Report in accordance with Section 110 of the Emergency Economic Stabilization Act of 2008 (EESA). FHFA announced on March 1 that the HARP would be extended to June 30, 2011. This report summarizes foreclosure prevention data for Fannie Mae and Freddie Mac through November 2009, and includes HAMP modification and refinance data through Jan. 31, 2010.”

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