The Federal Housing Administration gave more details Tuesday about a program to reward borrowers who get counseling and a quality assurance initiative meant to ease lenders' fears about accommodating riskier borrowers.

The update on the agency's efforts to expand access to mortgage credit came a day after Fannie Mae and Freddie Mac said they would exempt more loans from buyback demands. Federal Housing Finance Agency Director Mel Watt talked about ways to assuage lenders' concerns about repurchase liabilities in his first major speech Tuesday.

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