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Burned banks unlikely to embrace mortgage fix

Smarting from record-breaking mortgage settlements, banks are unlikely to go along with a US Government plan to expand low-income mortgage credit

The latest plan to juice the US mortgage market and improve access to credit could backfire.

The Federal Housing Finance Agency, which regulates Fannie Maeand Freddie Mac, wants to make it easier for low-income Americans to take out mortgages and refinance home loans. Late last month, it released proposed goals for Fannie and Freddie aimed at increasing their support for such loans.

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