PHH Home Loans Blog

Use HARP refinancing as a way to keep the conversation going with your clients

July 13th, 2017

Maintaining a connection with clients after they've closed and locked the door behind them in their new home is often a challenge. Aside from communications on holidays or birthdays, mailings on your latest business or sending a value-add seasonal publication on home upkeep/d?cor, what can you provide them that truly shows your continued value to them as their real estate professional? By offering them advice not on buying a new home, but refinancing their existing home using through the Home Affordable Refinance Program (HARP).

What is HARP?
Established in 2009 by the FHFA, HARP is a program for borrowers with mortgages owned by Fannie Mae and Freddie Mac and who have little to no equity in their homes to be able to refinance their mortgages to a lower rate. Among its benefits, borrowers can qualify with no minimum credit score or loan-to-value ratio cap requirements - the latter is a saving grace for loans that are "underwater." You and your clients can read more on the government's HARP website:

All good things...
Unfortunately, as with all good things, the HARP program and all of its benefits is drawing to a close - while it has been extended a few times, it appears that September 30th is the last date when borrowers can take advantage of the program. That means you only have a very small window of opportunity to use the program as a "conversation starter."

How you can help your business by helping your clients
Refinancing gives you a chance to reconnect – and you can do it with something as immediate as a phone call or a personalized email. It shows that you are thinking about your clients as people in a valuable and valued relationship - you're looking out for their best interests by giving them insight into a program that has the ultimate purpose of allowing them to stay in their house longer. That says, "It's not about me, it's about you" - and when it comes time for a referral to a family member or friend, they'll remember you as the real estate professional who truly does care and go above and beyond.


This is not a commitment to lend. Loan programs, rates and terms subject to change without notice and are subject to property and credit approval. For informational purposes only. Restrictions may apply. Your real estate professional is not a mortgage lender. Please contact your Loan Officer for information about mortgage products and your eligibility for home financing. PHH Home Loans, LLC, 1 Mortgage Way, 3rd Floor, Mt. Laurel, NJ 08054. NMLS ID # 4256 ( Arizona Residential Mortgage Licensee #BK 0907270; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; Illinois Residential Mortgage Licensee #MB.6759865; 100 W. Randolph, 9th floor, Chicago, IL 60601, 800-532-8785; Minnesota - This is not an offer to enter an interest rate lock-in agreement; Missouri in state office located at 2458 Old Dorset Road, Maryland Heights, MO; Ohio Certificate of Registration MB.804019. Equal Housing Lender.
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