DeMarco says FHFA will not consider principal write-downs

Today, Acting FHFA Director Ed DeMarco wrote to Congress, after due consideration, reaffirming his position that he will not permit Fannie and Freddie to lower principal balances of mortgages of borrowers that are delinquent. This is despite the fact that the top analyst in this space, Laurie Goodman, has determined that principal modifications are the most effective form of mortgage.

The top regulator for 60 percent of America’s home mortgages opened the door a bit on helping underwater homeowners through principal reduction, but he’s not totally on the bus yet.

The head of the federal agency charged with overseeing Fannie Mae and Freddie Mac on Tuesday said incentives offered by the Obama administration could save the two mortgage giants $1.7 billion by.

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Why is Ed DeMarco Blocking a Win-Win Housing Program? By Christopher. the study contradicts the claim that the FHFA made in April that principal reduction wouldn’t be cost effective:. one could conceivably make the analysis say whatever one wanted it to say. Certainly DeMarco’s critics.

More Hints Of A Giant Housing Cure Backed By Obama And The Fed – Say, for the sake of discussion, that the targeted mortgages are those who have not yet defaulted. Everyone but some Republicans is the answer. DeMarco (FHFA) would get what he wants. Obama would.

Federal housing finance agency (FHFA) acting director edward DeMarco continues to refuse to consider allowing Fannie Mae and Freddie Mac to write down mortgage principal for borrowers with underwater mortgages. The Los Angeles Times reports that DeMarco, in an appearance yesterday before the U.S. Senate Committee on Banking, Housing and Urban Affairs, insisted that the [.]

The Fed also urged their regulator, the Federal Housing Finance Agency. not to provide broad relief to the housing market. On Friday, the influential head of the New York Fed, William Dudley,

DeMarco: FHFA Is Weighing The Costs Of Write-Downs – Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), has signaled that the agency is weighing the costs of reversing its longstanding refusal to consider mortgage principal reductions. In a speech delivered today before the Brookings Institution in Washington, D.C., DeMarco.

She has been calling for the resignation of Federal Housing Finance Agency acting director Edward DeMarco for months, because DeMarco steadfastly refused to consider principal. of the ledger. Not.

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