The Obama administration is working on a new mortgage rescue plan, which could see Fannie Mae (FNM) and Freddie Mac (FRE) offer lower payments to hundreds of thousands of loan holders, Reuters reports on its Web site Sunday, citing "sources familiar with the plan." According to the report, officials from the Treasury Department and the Department of Housing and Urban Development were working with Fannie and Freddie's regulators to determine the parameters of the new plan. The hope within the administration is that the plan would act as a spur to encourage other finance companies to follow its lead, Reuters said. Full story at http://www.reuters.com/article/newsOne/idUSTRE5171EV20090208

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