WASHINGTON — Federal regulators are expected to release guidelines Wednesday that detail how lenders and servicers should conduct loan modifications — a critical step that will effectively kick off the Obama administration's $75 billion foreclosure prevention plan.

The guidelines are expected to detail who would be eligible for a Federal Deposit Insurance Corp. loan guarantee plan, how regulators are defining at-risk homeowners and how servicers should assist underwater borrowers, among other items, sources said Tuesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.