US Treasury Secretary Henry Paulson is pressing the US mortgage industry to help large groups of borrowers automatically, worried lenders will be unable to staunch a worsening morgage crisis if they try to fix loans one-by-one. In an interview with the Wall Street Journal published overnight, Mr Paulson said he was "aggressively encouraging" the mortgage servicers to develop new criteria that would speed the qualification of certain borrowers for better terms more quickly as...
photo: AP/Charles Dharapak
