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.