Fannie Mae released an updated Seller Guide that included a major change in its Home Affordable Refinance Program (HARP) rules yesterday.

Although most of the changes to the HARP guidelines had been previously announced, the elimination of the 'borrower ability to pay' clause is a "significant and unanticipated change that could have ramifications for the HARP program and realized speeds," according to a Barclays Capital report released this morning.

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