The program helps non-FHA borrowers that are underwater refinance into FHA-insured loans.
Banks could originate 300,000 more home loans per quarter and face only a slightly higher risk of default, according to a new report. But lenders are unlikely to loosen lending standards until they are sure that Fannie, Freddie and the FHA have eased up on buyback requests.
Fannie Mae has partnered with the Detroit Land Bank Authority to stabilize distressed neighborhoods.
Fitch Ratings has downgraded Nationstar Mortgage's ratings in several servicer categories.
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