[quote=FormerSanDiegan]
But, it has to be owned or guaranteed by Freddie or Fannie, meaning presumably that it must fall within conforming limits. [/quote]

The version I read says:

The Treasury Department will also develop uniform guidelines for loan modifications, as well as require all financial institutions receiving government funds to participate in the program. Also, all federal agencies that own or guarantee loans will have to apply the guidelines where appropriate.

“All financial institutions receiving government funds”…that’s everyone these days, isn’t it?