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My lender is Chase. Can I do a HARP refi with someone else?

I would like to refinance my home, but due to my value dropping, I will most likely have to refinance using the HARP program. 

My LTV is around 85% and my CLTV is around 100%. 
Can I refi with someone besides Chase? Or they the only ones that can do the loan? 

Thanks, 
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August 24 2011 - Charlotte
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Yes you can.  The problem in your case is getting the holder of the second lien to agree to subordinate a new loan.

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August 24 2011
You certainly can apply elsewhere.   If you have Fannie Mae loan, you will find most lenders have this product.   If Freddie Mac, slightly less availability but still not difficult to find.

Subordinating the 2nd loan is not very difficult behind a HARP refinance.   Many 2nd lien holders have reduced requirements and application fees for those requests.   If your 2nd is also with Chase, it should be no problem to get that request approved.
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August 25 2011
Yes you absolutely can in theory.   But, I know a great Chase banker that I'm sure would love to help you out.   I can also recommend a very good correspondant lender that does a great job as well.   If I were you, I'd compare the two.   Feel free to get in contact with me if you'd like me to make the referral(s).   For the record, we (the large institution I work for) can only do HARPs on our own paper and most of the other big lenders are the same.   Chase can't do BofA and BofA can't do Chase.  Brokers and Correspondant lenders can usually do them all.   We (the large bank lenders)  have the advantage of them being super easy in most cases and greater LTVs (most of the time), they have the advantage of having more options and sometimes being more competitive on price.
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August 25 2011
 
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