Fifth Third Mortgage Co., a subsidiary of Fifth Third Bank and the 16th largest mortgage originator in the country, reports that it has refinanced more than 23,500 mortgages since the Freddie Mac Relief Refinance program began in April 2009. The refinancings total nearly $4 billion, Fifth Third says.
Freddie Mac's refi program is a part of the federal Home Affordable Refinance Program (HARP) launched last year. According to government data, more than 4 million homeowners have refinanced their mortgages through HARP.
‘We applaud Fifth Third Mortgage Company for its success at helping borrowers save money by taking advantage of our Relief Refinance Mortgage and today's extraordinarily low mortgage rates,’ says Paul Mullings, senior vice president of single-family sourcing at Freddie Mac.
SOURCE: Fifth Third Mortgage Co.