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  • Home Affordable Refinance Program

    Bank Profits Soar as Washington Subsidies Flow

    Too often, government policies designed to ameliorate a general problem merely benefit a special interest. A case in point, highlighted by Binyamin Applebaum on the Economix blog, is the Home Affordable Refinance Program (HARP). HARP is part of the complex federal effort to stabilize the home mortgage market and stem … More

    Latest Obama Mortgage Refinance Plan Another Dud

    Undeterred by the underperformance of several previous efforts at mortgage refinancing, the Obama Administration has announced yet another plan designed to refinance the “underwater” mortgages of homeowners who owe more on their mortgage than their houses are currently worth. However, this version of the Home Affordable Refinance Program (HAMP) has … More