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Loan Modification

: Mortgage Lender Implode-o-Meter

Agencies propose expanding scope of Community Reinvestment Act regulations

By Implode-Explode Heavy Industries

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"The federal bank and thrift regulatory agencies have announced a proposed change to regulations of the Community Reinvestment Act (CRA) to support stabilization of communities affected by high foreclosure levels. The proposed change specifically would encourage depository institutions to support the Neighborhood Stabilization Program (NSP) administered by the U.S. Department of Housing & Urban Development (HUD)."

Full post as published by Mortgage Lender Implode-o-Meter on June 18, 2010 (boomark / email).

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