UPDATE 1-U.S. regulator to let Fannie, Freddie cut mortgage balances
April 14, 2016 at 14:57 PM EDT
WASHINGTON, April 14 (Reuters) - The regulator of government-controlled mortgage finance companies Fannie Mae and Freddie Mac said on Thursday it would allow the two to cut loans balances for thousands of U.S. borrowers who owe more than their home is worth.