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TARP Recipients Must Modify Loans: HUD

TARP Recipients Must Modify Loans: HUD
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April 9 (Bloomberg) -- Banks receiving federal aid through the U.S. Troubled Asset Relief Program must also take part in the government's mortgage modification initiatives, Housing and Urban Development Secretary Shaun Donovan said.

The U.S. is "going to require as a condition of participation in TARP going forward that banks do participate in" the Obama administration's Making Home Affordable plan, Donovan said in an interview on Bloomberg television today.

Read more on bloomberg.com

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