WASHINGTON — Regulators are considering easing standards to increase participation in Hope for Homeowners, a government program that began Oct. 1 but has sparked little interest from lenders or servicers, sources said Monday.

Lenders currently must agree to write down a mortgage to 13% below its market value to be eligible for the Federal Housing Administration program, which lets borrowers refinance loans worth less than their home's value. But regulators are thinking of reducing the required writedown to between 3% to 5% below market value, several sources said.

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