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TH E M R EP O RT | 57 O R I G I NAT I O N S E R V I C I N G A NA LY T I C S S E C O N DA R Y M A R K E T ANALYTICS AROUND THE U.S. California 40,171 618 Texas 11,069 44 Florida 8,152 678 Illinois 6,989 455 Colorado 6,986 20 Washington 6,325 86 Michigan 5,633 340 New York 4,891 155 Arizona 4,865 275 Massachusetts 4,848 97 Virginia 4,788 235 New Jersey 4,718 253 Georgia 4,452 321 North Carolina 4,419 137 Pennsylvania 4,203 200 Ohio 4,176 325 Minnesota 3,871 120 Oregon 3,629 49 Wisconsin 3,621 92 Maryland 3,472 242 Utah 3,051 21 Missouri 3,019 97 Indiana 2,673 69 Tennessee 2,348 40 Nevada 2,097 142 South Carolina 1,982 104 Louisiana 1,559 32 Iowa 1,532 19 Alabama 1,501 85 Kentucky 1,454 27 Connecticut 1,427 113 Oklahoma 1,135 14 Kansas 1,103 15 Idaho 1,067 22 Nebraska 978 9 Arkansas 845 25 New Hampshire 808 33 Hawaii 808 6 New Mexico 761 53 Mississippi 675 31 Montana 592 5 Delaware 576 35 Maine 506 22 Rhode Island 480 43 District of Columbia 460 2 West Virginia 385 12 Wyoming 372 5 North Dakota 354 - South Dakota 350 - Alaska 348 1 Other* 291 39 Vermont 285 9 Total 177,090 5,872 *Includes Guam, Puerto Rico, Virgin Islands, and other loans for which data is not available Source: FHFA's Q2 2016 Refinance Report HARP REFINANCES TOTAL REFINANCES NUMBER OF HARP REFINANCES IN JUNE 2016 Straight from the HARP I n August 2016, the Federal Housing Finance Agency extended its Home Affordable Refinance Program (HARP) until Septem- ber 2017. To date, approximately 3.4 million homeowners have refinanced through HARP since the program was launched in 2009 as a way to help underwater homeowners save on monthly mortgage payments and rebuild equity. HARP numbers have been shrinking since the third quarter of 2012 when they peaked at 319,000 for the three-month period. By comparison, HARP refis totaled 18,000 for the second quarter of 2016. In June 2016, a total of 5,872 refinances were competed on GSE-backed loans through HARP, representing about 3 percent of the total of 177,090 refinances completed during the month on loans backed by Fannie Mae or Freddie Mac. "There are still more than 323,000 U.S. bor - rowers eligible for the program who have a financial incentive to refinance, as of the first quarter of 2016," FHFA stated. "These so called 'in-the-money' borrowers meet the basic HARP eligibility requirements, have a remaining bal - ance of $50,000 or more on their mortgage, have a remaining term on their loan of greater than 10 years, and their mortgage interest rate is at least 1.5 percent higher than current market rates."