The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday.
The administration will announce its expanded program on Monday, Treasury spokeswoman Meg Reilly said.
"We are taking additional steps to enhance servicer transparency and accountability," Reilly said. She said the goal was to increase the rate that troubled home loans were converted into new loans with lower monthly payments.
Industry officials said the new effort would include increased pressure on mortgage companies to accelerate …
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