HARP Means Slower Voluntary Prepayment Speeds

28 Sep 2010

The Obama administration’s Home Affordable Refinance Program, designed to aid underwater borrowers refinance their mortgages, will likely slow, rather than accelerate, prepayment speeds on mortgage-backed securities, according to Royal Bank of Scotland analysts in a new report.

--Amelia Granger

The Obama administration’s Home Affordable Refinance Program, designed to aid underwater borrowers refinance their mortgages, will likely slow, rather than accelerate, prepayment speeds on mortgage-backed securities, according to Royal Bank of Scotland analysts in a new report.

Refinancings often increase voluntary prepayment speeds because they translate into ...

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