``In November Fannie Mae refinanced 77,301 home mortgages through HARP, 22 percent of all refinancing it did that month and Freddie Mac had 52,445 HARP refinances or 23.4 percent.

The revisions to HARP removed the existing 125 percent cap on loan-to-value ratios. About one fifth of the loans refinanced since that time have had LTV ratios above 125 percent. In November, 46 percent of the loans refinanced through HARP had loan-to-value (LTV) ratios greater than 105 percent and 24 percent had LTVs greater than 125 percent.''

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