Congressman Dennis Cardoza (D., Calif.) plans to introduce a blanket modification effort for GSE loans that could see as many as 30 million U.S. mortgage borrowers refinance their mortgages at record low interest rates.

According to a Reuters report, borrowers would be eligible for refinancing regardless of their income, credit history or LTV ratio.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.