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March 28, 2008
Clinton Details Mortgage Plan
On March 24, Hillary Clinton rolled out a four-part plan that supports a federal mortgage auction system under legislation proposed by Rep. Frank, and Sen. Dodd,; but she goes further by calling for the FHA to supplement the auction plan by purchasing problem mortgages as necessary. Clinton's proposal also calls for enhanced protection for mortgage servicers from investor lawsuits as a way to bolster loan restructuring efforts, a $30 billion initiative to eliminate blight by permitting cities and states to snap up foreclosed homes and a nonpartisan housing panel, with members including former Federal Reserve chairman Alan Greenspan and former Treasury secretary Robert Rubin.
Posted by S. Germain at March 28, 2008 07:46 AM