Servicers refinanced more than 85,000 high LTV loans under the Home Affordable Refinancing Program (HARP) in the third quarter, up nearly 11% from the prior period, according to new figures compiled by the Federal Housing Finance Agency.

To date, servicers have refinanced 928,500 Fannie Mae/Freddie Mac mortgages with loan-to-value ratios above 80% and up to 125% since the HARP initiative was launched in April 2009. The figure includes 77,500 refinancings for underwater borrowers with LTVs ranging from 105% to 125%. Servicers refinanced 15,070 of those underwater loans in the third quarter.

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