Sens. Robert Menendez (D-N.J.) and Barbara Boxer (D-Calif.) on Feb. 7 reintroduced the Responsible Homeowner Refinancing Act, which aims to make it easier for homeowners to refinance Fannie Mae and Freddie Mac mortgages. The bill would loosen refinancing requirements and would extend the Home Affordable Refinance Program through 2014, among other changes. The measure could help millions of borrowers refinance their mortgages. Partisan dispute over the addition of housing-related amendments stalled the legislation in the Senate Banking Committee last summer. The sponsors offered a slimmed-down version in September but lawmakers did not take it up during the lame duck session.
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