RSSGov’t increases pressure on mortgage industry
From: The Washington Times | November 30, 2009
(AP) -- The Obama administration said Monday it will crack down on mortgage companies that are failing to do enough to help borrowers at risk of foreclosure, as part of a broad effort to ramp up participation in its mortgage assistance program. The Treasury Department said it will withhold payments from mortgage companies that aren't doing enough to make the changes permanent. Officials will monitor the largest mortgage companies through daily progress reports. The goal is to increase the rate at which troubled home loans are converted into new loans with lower monthly payments. At the end of October, more ...
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