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by consolidating or splitting parcels, you could potentially be consolidating or splitting parcel-based fees. Here in Texas there is no real benefit I can see to combining the two parcels.
If you do that you would be required to create new surveys, deeds, potentially have issues with any existing mortgages, right of ways if they bound the two parcels, tax consequences if you have Ag or other special exemptions on them, etc., etc.
No way will the bank let anything happen to the value of their collateral.
There are some benefits and some drawbacks dependent upon the area.
I combined my 2 parcels because then it is all covered under homestead exemption for taxes.
If any grandfathered issues exist on lot sizes in the county adjoining them may require them to remain combined or non-granfathered changes/restrictions/covenants can come in to play (h20,septic rules, setbacks, min. may change if the county rules had changed) - I have also seen covenants restrict from combined parcels from being re-split since varying density options can affect subdivision values.
So short version look into all the details of your area to find out the pros and cons and be sure to find out if/how it affects the future use!
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HARP is only for Fannie Mae- and Freddie Mac-guaranteed loans.