Volume of HARP Loans Increases During Q2

Published September 02, 2013, 2:22 p.m. EDT

|

Updated August 26, 2020, 10:10 p.m. EDT

1 Min Read

WASHINGTON The members of the Mortgage Insurance Cos. of America did nearly $8 billion in Home Affordable Refinance Program workouts in 2Q13, up from $7.8 billion in 1Q13.

Processing Content

At the current pace, Genworth, MGIC and Radian will have done more HARP loans than they did for all of 2012, when they did $29.2 billion.

For the Home Affordable Modification Program, MICA members did $907 million in 2Q13 workouts, down from $1.2 billion in 1Q13. HAMP activity peaked in 2010, at $13.1 billion. Other loan modification programs had volume of $1.1 billion for 2Q13, down from $1.2 billion in the first quarter. Both HAMP and the other mod program activities are behind their respective pace in 2012.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Community banking

Citing bad loans, USDA bars a group of lenders from lending program

The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.

By John Reosti
Reporter

1h ago
Artificial intelligence

OpenAI launches Plaid integration for ChatGPT Pro users

Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.

By Melinda Huspen
Tech Reporter

2h ago
Fraud

Always-on fraud checks cut Suncoast's losses by a third

Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.

By Carter Pape
Technology Reporter

2h ago
Wells Fargo

Wells Fargo settles lawsuit alleging hiring, lending discrimination

The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.

By Allissa Kline
Reporter

3h ago
New York

First Trump, Now Mamdani; politicians stepping into payments

Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.

By John Adams
Executive Editor, Payments

4h ago
Agentic Commerce

Why JPMorgan Payments has been 'pretty quiet' on agentic commerce

Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.

By Joey Pizzolato
Reporter

4h ago

Load More