The Mortgage Bankers Association (MBA) is supporting a Senate bill to streamline the Home Affordable Refinancing Program (HARP) relieving lenders of repurchase risk when they refinance underwater GSE borrowers.

The bill sponsored by Sens. Barbara Boxer, D-Calif., and Robert Menendez, D-N.J., would increase competition between lender/servicers when it comes to representation and warranty risk on HARP 2.0 refinancings.

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