Are there any nationwide lenders doing the obama program yet?

HARP 2, which technically eliminates the current 125% cap, is very slowly starting to roll out. The reality is that all lenders need to run applications for the program through Fannie Mae and Freddie Mac computers. These AUS (automated underwriting system) will not allow HARP 2 underwiting decisions until March 15th, 2012. Therefore you really won't see lenders offering HARP 2 until then. Need a HARP loan in MN or WI? Click my name to the left for more information.

Hello Melann,We are doing HARP loans through out Alabama, but the max loan-to-value is 125%. It must be a current Fannie Mae loan to qualify for the loan. Have you already done an appraisal that showed you at 145%?Thanks,Jack ShieldsHiott Financial Corp(256) 749-7948 ph

The short answer is No. Not yet. Because they are trying to get as many of the players involved committed to the new program, the roll-out has been delayed. The current "anticipated" roll-out date is 3-15-2012. But until the announcement is made...