WASHINGTON — Federal Housing Finance Agency Director James Lockhart took the rare step Monday of urging servicers to follow a modification program announced earlier this month aimed at Fannie Mae and Freddie Mac.

Under the program, the government-sponsored enterprises reduce a borrower's mortgage-debt-to-income ratio to 38% on loans with a loan-to-value ratio of at least 90%. Borrowers have to be at least three months past due to qualify.

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