Because banks would need to accept higher risk, a secondary market for mortgages is necessary.

It would take too long to work out the conflicts to include a mortgage modification scheme in the rescue package.

Additional work with international financial institutions includes opportunities for support from the Canada Mortgage and Housing Corporation and a number of private foundations.

Mortgage lending, however, is a long standing activity for commercial and savings banks, mostly unaffected by Glass Steagall or its repeal.