At the White House yesterday, the Bush administration unveiled its plan to address the subprime-mortgage crisis. Marc Lackritz, president and CEO of SIFMA, commended "the use of all options available to borrowers, including refinancing, loan modification, borrower counseling and loss mitigation strategies." Tom Deutsch, deputy director of the American Securitization Forum, an affiliate of SIFMA, said: "This is not a government bailout program. This is an industry-led framework for providing the best market standards and practices."
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