Factbox: Six steps to fixing the mortgage mess

(Reuters) - Reuters recently talked to nearly two dozen experts about ways to repair the U.S. housing market and while there was much disagreement, the making of a consensus did seem to emerge. Below are suggested paths to finding a way out of the mortgage morass.

* A Camp David summit -- The White House needs to gather together representatives of the banks, borrowers, bond investors and regulators for a summit to discuss an all-encompassing settlement.

* Second lien writedowns -- Any grand deal must entail banks agreeing to take writedowns on their hefty exposure to home equity loans.

* Regulatory easing -- In return for taking writedowns on second liens, regulators must craft a solution for banks to absorb losses over many quarters, or even years, to prevent lenders from depleting precious capital.

* Big Refi -- For eligible borrowers, primary mortgages and home equity loans are rolled into a new mortgage with a reduced principal and ultra-low interest rate.

* Bond investors deal -- In combination with second lien writedowns, bond investors support meaningful principal reductions on primary mortgages and negotiate with banks on how to resolve claims over alleged faulty bonds.

* Borrowers compromise -- Homeowners who can't manage even a reduced loan agree to give up title to a home and relinquish legal claims over potentially faulty documents in return for rent subsidies and relocation expenses.

(Reporting by Matthew Goldstein; Editing by Claudia Parsons)