Investors and sellers

The Obama administration relaxed the requirements for government-backed
mortgage modifications yesterday. The program, a $75 billion assistance plan
announced earlier this year, originally allowed homeowners with
loan-to-value ratios up to 105% qualify for refinancing, provided the
loan is backed by Fannie Mae (NYSE: FNM) or Freddie Mac (NYSE: FRE). That limit has now been upped to 125%.