WASHINGTON (AP) - The Obama administration says it will crack down on mortgage companies that are failing to do enough to help borrowers at risk of foreclosure.
The Treasury Department says it may fine mortgage companies that aren't doing enough to make permanent loan modifications under the government's $75 billion "Making Home Affordable" relief program.
Many mortgage companies have had trouble getting borrowers to return necessary documents to complete the modifications, which allow homeowners to have their mortgage interest rate reduced to as low as 2 percent for five years
