Some Mortgage Market Players Agree On Bailout Principles To Apply To Help Struggling Homeowners
Those agreeing to the principles include the Mortgage Bankers Association; Wall Street powerhouses Citigroup Inc., JPMorgan Chase & Co. HSBC Holdings Corp. and Bear Stearns & Co.; government-sponsored mortgage finance giants Fannie Mae and Freddie Mac; AARP; and the Leadership Conference on Civil Rights. Several activist and community groups receive money from financial institutions and work with homeowners to refinance high-rate loans.
Some companies, however, including Countrywide Financial Corp. and Wells Fargo & Co., did not endorse the principles. For more, see Several players in home mortgage market agree on principles for borrowers in trouble.
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