A program to help more homeowners refinance may be expanded to include borrowers who owe more than 105% of their homes' value, Federal Housing Finance Agency Director James Lockhart said.
The Obama administration is considering allowing Fannie Mae and Freddie Mac to refinance loans with current loan-to-value ratios of 125% or higher, Lockhart said at a National Association of Real Estate Editors Association conference.
The Home Affordable refinancing program, announced Feb. 18, is part of the U.S. government's efforts to stem soaring foreclosures and bolster consumer spending.
