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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: June 26, 2013

Washington Trust Offers HARP Mortgage Refinancing Program

Bank Helps Homeowners in RI, MA & CT Refinance Underwater Mortgages

Westerly, Rhode Island... Washington Trust recently began offering Home Affordable Refinance Program (HARP) loans to help home-owners who do not qualify for traditional refinancing because their home value has dropped below the balance of their mortgage. The HARP program, an official program of the Departments of the Treasury & Housing and Urban Development, is being offered through 2015.

Joseph J. MarcAurele, Washington Trust Chairman, President and CEO, stated, “The downturn in the economy affected real estate values, resulting in homeowners owing more than their home is worth. Washington Trust is giving homeowners the opportunity to make their payments more affordable through HARP refinancing.”

To be eligible for a HARP refinance homeowners must meet the following criteria:

  • The loan must be owned or guaranteed by Fannie Mae or Freddie Mac
  • The mortgage must have a securitization date prior to June 1, 2009
  • The borrower must have paid their loan on-time for the last six months

HARP loans require a loan application and underwriting process, and refinance fees will apply.

For more information, contact Washington Trust’s mortgage specialists in Rhode Island, Connecticut and Massachusetts by visiting www.washtrust.com or call 1-800-475-2265.

Founded in 1800, Washington Trust is one of New England’s premier financial services companies, providing mortgage banking, commercial banking, small business banking, personal banking, and wealth management and trust services to individuals and institutions through its offices located in Rhode Island, Connecticut and Massachusetts. Our Mortgage Lending area offers a full-range of mortgage solutions, including first-time mortgages, reverse mortgages and home equity loans and lines. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH). Web site address: www.washtrust.com.

The Washington Trust Company
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