Lenders to meet with FHFA about HARP, BofA says

12/8/2011 | Bloomberg

Vijay Lala, a mortgage-products executive at Bank of America, said the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, has asked lenders to meet to discuss the overhaul of the Home Affordable Refinance Program. Mortgage originators have raised concerns about HARP, saying it contains details that hinder the effort. "There were some things in there that we didn't think were going to happen, that are making it more operationally difficult to implement. They threw some curveballs at us," Mr. Lala said.

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