Industry News

Senator envisions program to buy risky mortgages

Dodd wants housing programs in stimulus bill
Published on Jan 24, 2008

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by CareyBot

The chairman of the Senate Banking Committee wants to create a Federal Homeownership Preservation Corp. and provide it with up to $20 billion to purchase mortgages from lenders and allow homeowners to refinance into government-backed, fixed-rate mortgages. Sen. Chris Dodd, ...

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