Your intervention is needed to help us in efforts to mandate to Fannie Mae to lift "credit enhancement" restrictions to qualify for HARP 2.
HARP2 is a very well intentioned program but it's clearly not working as intended.
One of the major initiatives of the HARP2 program is to allow the borrower to refinance with any lender, but certain loans became ineligible as is explained under the HARP2 FAQ updated on March 15, 2012 - page 18 (Q56.) https://www.efanniemae.com/sf/mha/mharefi/pdf/refinancefaqs.pdf .
This is a major obstacle to refinance. Some Lenders are not even participating.
Fannie needs to step up, do these loans, if Fannie Mae is already securing the loan why this additional level of protection. This friction in the refinancing process needs to be address and confronted.
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