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Fannie, Freddie Boost Efforts to Minimize Responsibility
Fannie Mae and Freddie Mac, the walking-dead government-owned mortgage-finance companies, announced Tuesday that they will accelerate their anti-responsibility efforts with a new accountability elimination program designed to cut financial obligations for struggling debtors. The mortgage giants will target loans in which borrowers have given up paying back their mortgages for three months or more and have debt obligations that exceed fifty percent of their monthly income.