Are all lenders required to participate in the Home Affordable Refinance program (HARP)?
Lender participation in HARP is voluntary unlike the Home Affordable Modification Program (HAMP), which is mandatory for Servicers of loans guaranteed by either Freddie Mac or Fannie Mae (GSEs). Because participation in HARP is voluntary, Freddie Mac-approved lenders may adopt the Relief Refinance Mortgage offering, Freddie Mac’s business implementation of HARP, at their discretion.
