HUD's Donovan Hopes for Refinancing Plan in a 'Couple Weeks'

HUD's Donovan Hopes for Refinancing Plan in a 'Couple Weeks'.

The Dow Jones Newswires (10/12, Yoon, Subscription Publication) reports that HUD Secretary Shaun Donovan said that the "plan to expand a US government program to help more borrowers refinance at the lowest interest rates in decades could be ready within a couple of weeks as regulators hammer out details." Donovan also stated that HUD "is working with the regulator of mortgage finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC) to find ways to reduce barriers that have limited the reach of the government's flagship program to help borrowers who have lost home equity."