WSJ reports Fannie (FNM) has reached an agreement to work with one of its former critics, Neighborhood Assistance Corp. of America, to prevent foreclosures by reworking home mortgages to make them easier to afford. The agreement is one of several measures the government-backed mortgage company and its main rival, Freddie Mac (FRE), are working on to avoid a further jump in foreclosures. The two companies recently announced streamlined procedures for modifying loans and a suspension of foreclosure sales and evictions that is due to end Saturday.
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