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HARP 2.0 coming soon….

Just received this from our corporate office…

“We sent our East Coast Regional and a corporate secondary person to a HARP 2.0 seminar in Washington DC yesterday.  I expect to start to see some direction in the next week or two.  DU won’t be ready until mid –March so we have some time.  There are still a lot of unknowns around reps and warrants, warehouse covenants on over 100 % LTVs, and who will be doing these loans as investors.  People are starting to solicit the business but don’t have the product.  I saw a WJ Bradley solicitation for apps, but they don’t even offer the product yet – nobody can close one until after the DU release.  Keep sharing anything you see in the field. Thanks.”

I know there is a lot of technical jargon here but the point is, you may already be hearing from companies advertising this program.  It is not rolled out just yet. Beware of false promises.

Dan

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About danielduckworthmortgagenotes

Senior Mortgage Loan Officer at Academy Mortgage Group in Scottsdale, AZ

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