The President's HARP II - supposedly an improvement on the failed HARP - is a whole lot of nothing, writes Felix Salmon. A check of the FHFA press release reveals the agency itself isn't terribly optimistic about the results, and is talking about a doubling in HARP refinances by the end of 2013. That's 2 years from now! No wonder the mortgage REITs rallied today.
The President's HARP II - supposedly an improvement on the failed HARP - is a whole lot of...
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