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Feds see foreclosures as top priority

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WASHINGTON, D.C. -- Several federal officials, on the front lines in the battle to restore order, activity and confidence in the nation's housing market, told an audience of real estate journalists on Thursday that curbing foreclosures is key to a housing and economic recovery. "Our first responsibility is to stem the tide of foreclosures sweeping the country and help people keep their homes," said Housing Secretary Shaun Donovan, who addressed members of the National Association of Real Estate Editors during an annual conference. "With the housing crisis at the root of the economic crisis, (the U.S. Department of Housing and Urban Development) has been quite literally at the center of the administration's response." James Lockhart, director of the Federal Housing Finance Agency, which oversees Fannie Mae, Freddie Mac and the federal home loan banks; and John Walsh, chief of staff for the Treasury Department's Comptroller of Currency, which supervises an...