The mortgage finance giant, now under government conservatorship, recorded the loss as it wrote down a tax-related asset that had buoyed its capital and the housing slump worsened.

The mortgage finance giant, now under government conservatorship, recorded the loss as it wrote down a tax-related asset that had buoyed its capital and the housing slump worsened.

The mortgage finance giant, now under government conservatorship, recorded the loss as it wrote down a tax-related asset that had buoyed its capital and the housing slump worsened.

The goal will be to modify the mortgages of homeowners facing foreclosure so that a monthly loan payment is no higher than 38 percent of a borrower’s monthly income.

The goal will be to modify the mortgages of homeowners facing foreclosure so that a monthly loan payment is no higher than 38 percent of a borrower’s monthly income.

A new program is expected to allow lenders to modify more delinquent loans by establishing broad criteria to speed the process.

Development of a system that allows deserving borrowers to obtain mortgages while minimizing risks to the financial system must be “high on the policy agenda,” the Fed chief said.

Yngve Slyngstad, who became the Pension Fund’s chief executive in January, has witnessed firsthand how the market’s latest convulsions affect a fund of this magnitude.

House Republicans pared back their goals on Friday and demanded that the $700 billion bailout plan rely at least partly on an industry-financed insurance program for troubled mortgages.

The $700 billion bailout is uncharted territory not just for Washington lawmakers, but also for lobbyists.