The recently unveiled HARP 2.0 initiative should be “fully” operational in 30 days and is already exceeding expectations, according to Department of Housing and Urban Development secretary Shaun Donovan.

Donovan told a Senate panel Tuesday that 50,000 HARP 2.0 refinancings have closed since the program was introduced late last year.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.