Updated-Good News, Bad News: YTD Fannie Freddie Refis @2.9 Million But Only 1 in 50 Refis Were HAMP w LTV>80%.

Update, corrected table row for HAMP refinances. Table showed 6.6% of all refinances were HAMP with LTV of <80%; should have read that 6.6% of ALL refinances were HAMP refinances.

FHFA press release is HERE.

When you dig below the surface (table below) you will see that:

• Only 190,000+ of the Fannie and Freddie 2.9 Million refis were done under the Administration's (Home Affordable Modification Program) HAMP program. That's 6.6% of all Fannie and Freddie refinances.
• Only 60,000+ of these HAMP refinances had loan to values of 80% or HIGHER--that's only 2.1% of all Fannie Freddie refinances.
• (Note that recently authorized LTV's up to 125% are NOT included in this report).
  

Metric	YTD
Total Fannie/Freddie Refinances	2,903,114
Total HAMP Refinances	190,476
HAMP Refinances, LTV <80%>	129,992
HAMP Refinances, LTV 80% - 105%	60,484
HAMP Refinances /All Refinances	6.6%
HAMP Refinances LTV 80%-105%/All Refis	2.1%