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Fed’s Rosengren says allow underwater borrowers to refinance

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Fed’s Rosengren says allow underwater borrowers to refinance

The Federal Reserve's policy of keeping interest rates low to spur lending hit a barrier in the recovery with home prices falling and underwriting guidelines keeping borrowers from refinancing, said Eric Rosengren, president of the Federal Reserve Bank of Boston. With that in mind, the Fed Bank CEO said he supports policies that would...
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