Influential group to support U.S.-backed mortgages

"A think tank with close ties to the Obama administration is set to unveil a proposal on Thursday on restructuring the U.S. housing finance system and is expected to recommend government backing for mortgages.

The plan from the Center for American Progress will flesh out a blueprint for a revamp of the $11 trillion U.S. mortgage market first unveiled in 2009. It will be published just weeks before the Obama administration is set to release its own proposals."