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Freddie Mac
Regulator unveils plan to spur lending by Fannie, Freddie
Regulator unveils plan to spur lending by Fannie, Freddie

Seeking to reassure home lenders, the government's top overseer for Fannie Mae and Freddie Mac said the mortgage finance giants would ease their demands to be compensated for certain soured loans. Federal Housing Finance Agency Director Mel Watt also said the agency would release guidelines "in the coming weeks" to allow increased lending to borrowers with down payments as low as 3% by considering "compensating factors." Speaking Monday at an industry convention, Watt offered an olive branch to lenders who sell loans to Fannie and Freddie, saying he hoped they would loosen overly tight lending standards imposed on borrowers with less than perfect credit profiles....

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