There has been discussion that since many of the credit-eligible borrowers are out of the refinancing window, mortgage bankers will use the freed-up capacity to concentrate on the harder-to-refinance, credit-impaired borrowers.

Mortgage bankers will focus on this sector especially with delivery fees set to increase in a couple of months, while the Home Affordable Refinance Program is scheduled to end on June 30, UBS analyst Jeffrey Ho said in an earlier report.

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