Finance

FHFA’s Mod Plan ‘Falls Short,’ Says FDIC’s Bair 

The “streamlined modification plan” announced Tuesday by federal regulators and industry representatives for mortgages owned or guaranteed by Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] isn’t drawing the sort of praise from industry insiders that some might have expected — and its definitely generating outrage among regular borrowers, too. In particular, there appears to be some friction as to just how involved the Federal Deposit Insurance Corp. really was in developing the plan.