Senator Barbara Boxer of California held a press conference last week to support the passage of Helping Responsible Homeowners Act, which aims to help non-delinquent, existing borrowers refinance at a lower rate through the elimination of Loan-Level Price Adjustments (LLPAs) and qualify borrowers with LTVs higher than 125%.

The proposed legislation also effectively seeks to expand the Home Affordable Refinancing Program (HARP), which has a maximum 125% LTV limit.

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