Industry NewsMortgage

Loan mods could restore confidence

FDIC plan synchs with real estate industry aims
Published on Nov 17, 2008

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by CareyBot

A plan for the government to partially insure lenders when they agree to modify troubled borrowers' loan terms could help stabilize housing markets and bring buyers back into the market.

Federal Deposit Insurance Corp. chairwoman Sheila Bair wants the Bush administration to provide incentives for lenders to do as many as 2.2 million loan modifications.

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