Word: plan
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...second plan being discussed calls for the expansion of existing housing-assistance programs run by the Department of Housing and Urban Development, according to an Administration official. The official said there were advantages to using existing HUD programs rather than starting a new one from scratch, adding that it was unclear who would administer the FDIC's plan. "There's a lot of work to do to flesh out [Bair's] idea," the official said. Congress and both candidates for President have also discussed potential homeowner-bailout programs of their...
...struggling homeowners would be covered in a bailout, another Administration official stressed. The plan is to assist only people with sustainable home loans, not borrowers who made bad decisions and are stuck with mortgages they clearly can't pay off. "We're not doing anything for people who are under water," said the official. The FDIC plan would attempt to filter out "the people we can't help. There are foreclosures that will go forward." The process of sorting good from bad loans would also provide clarity for mortgage markets by helping financial institutions assess where the risks...
...these talks, however, it appears that the breadth of her proposal is causing friction. HUD's existing programs would seem to be the natural foundation for a mortgage rescue plan. But part of the problem in addressing the housing crisis is figuring out which loans can still be serviced, since some banks required little or no documentation of a homeowner's ability to carry the loans. The FDIC's role as a bank overseer is viewed as giving it more insight into the quality of loans on banks' books...
...final hitch may be the perennial problem of who gets credit for the plan once it is agreed on. Several sources stressed that the deal's rollout, whenever it occurs, would come from the White House, not the agencies who were negotiating the details...
...Sister Other right-leaning voters acknowledge what they see as Clark's Thatcheresque toughness and command of detail. But for many, these traits don't compensate for a government they see as increasingly paternalistic. Something like public outrage erupted in early October over a draft plan requiring that low-pressure shower heads be installed in new homes over a specified size, a trifle in itself but part of a wider narrative broadcast by anti-Clark forces that New Zealand has become a nanny state. It's a perception strongest in rural areas, where many farmers feel suffocated by bureaucracy. Sometimes...