2012-09-12 — housingwire.com
Senate Democrats reintroduced a bill to expand refinancing for an estimated 13.5 million Fannie Mae and Freddie Mac mortgage borrowers.
Sens. Robert Menendez, D-N.J., and Barbara Boxer, D-Calif., will keep the origination cut-off date for the Home Affordable Refinance Program at June 2009 after a previous version expanded the program through June 2010.
The new version of the bill also eliminates previously proposed penalties for second lien holders and mortgage insurers who did not approve or transfer coverage in order to allow a HARP refinance to go through.
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