This story appeared in Bank Digest.
The Federal Housing Finance Agency has released its Fourth Quarter 2013 Refinance Report. In the fourth quarter 2013, 115,140 refinances were completed through the Home Affordable Refinance Program, bringing the total refinances through HARP from the inception of the program to 3,057,958. HARP volume represented 23 percent of total refinance volume during the fourth quarter. In December 2013, 14 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent. From inception through December 2013, 2,585,240 loans refinanced through HARP were for primary residences, 98,194 were for second homes, and 374,524 were for investment properties.