Housing Regulator Extends Mortgage Modification Programs Through 2016

The director of the Federal Housing Finance Agency, which regulates mortgage-finance companies Fannie Mae and Freddie Mac, on Friday said that the companies would extend for another year the deadline to participate in a pair of programs meant to help struggling borrowers. FHFA Director Melvin Watt at a Greenlining Institute conference in Los Angeles said that Fannie and Freddie would participate in both the Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP) through December 2016. Fannie and Freddie had been set to stop allowing modifications under the......(read more)

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