US Administration Working On Plan To Subsidize Some Mtge Payments-Reuters
13 February 2009 - 8:15AM
Dow Jones News
The U.S. administration is working out a plan to subsidize
mortgage payments for homeowners with problem loans who have gone
through a standardized reappraisal and affordability test, Reuters
reported Thursday, citing sources familiar with the plan.
Fannie Mae (FNM) and Freddie Mac (FRE) are expected to play a
supporting role but are not expected to expand their
securitizations.
According to the report, James Lockhart, director of the Federal
Housing Finance Agency, said the mortgage finance industry was keen
to have a standardized mortgage modification standard.
Full story at www.reuters.com
-Dow Jones Newswires; 201-938-5500