Ed DeMarco's Refusal on Principal Reductions Grounds for Firing
The single largest obstacle to meaningful economic recovery is a man who most Americans have probably never heard of, Edward J. DeMarco. From his perch as acting director of the Federal Housing...
View ArticleUS regulator torpedoes Obama mortgage plan
The US regulator in charge of state-backed mortgage firms Fannie Mae and Freddie Mac has rejected an Obama administration plan to ease the housing crisis by forgiving some outstanding home loans....
View ArticleRegulator Leaves Underwater Homeowners High and Dry
After months of stalling, Edward DeMarco finally slammed the door on hundreds of thousands of beleaguered homeowners looking for relief. DeMarco, acting director of the Federal Housing Finance Agency,...
View ArticleFannie Mae had seen benefits to lowering some home loans, documents indicate
Officials at government-backed mortgage giant Fannie Mae concluded years ago that the company could “reduce its losses substantially” by lowering loan amounts for some troubled borrowers, according to...
View ArticleHousing Chief Should See the Upside of Forgiving Debts: View
Edward DeMarco, acting director of the Federal Housing Finance Agency, was back on Capitol Hill this week explaining to lawmakers why he can’t -- or won’t -- allow mortgage giants Fannie Mae and...
View ArticleDems want Fannie, Freddie overseer out over resistance to mortgage write-downs
AP Aug. 8, 2011: The Fannie Mae headquarters is seen in Washington. A top regulator's unbending refusal to use troubled mortgage giants Fannie Mae and Freddie Mac to rescue underwater homeowners is...
View ArticleFannie, Freddie regulator fires back at Calif. AG
How did housing finance director Edward DeMarco respond to ? To put things simply, he said thanks, but no thanks. "Numerous foreclosure slowdowns and moratoria have already taken place, each adding to...
View ArticleKamala Harris To Fannie Mae And Freddie Mac: Halt Foreclosures In California
Having failed to get Fannie Mae and Freddie Mac on board helping struggling homeowners in California, Attorney General Kamala Harris is trying a new tact: asking Edward DeMarco, the government...
View ArticleFannie, Freddie might save by reducing mortgage loans, FHFA chief says
The head regulator for Fannie Mae and Freddie Mac said Tuesday that a preliminary analysis shows that it might make financial sense for the government-backed mortgage giants to reduce the loan...
View ArticleWhite House Must Free Fannie Mae, Freddie Mac On Principal Reduction, Remove...
The time has long since arrived for Edward J. DeMarco to pursue his other opportunities in the private sector, whatever they may be. DeMarco, you may recall, is acting head of the Federal Housing...
View ArticleEd DeMarco's Opposition To Principal Reduction May Be Costing Fannie And...
Ed DeMarco, who oversees Fannie Mae and Freddie Mac, opposes principal reductions, which the mortgage giants say could save them money. By Jessie Eisinger, ProPublica and Chris Arnold, NPR New...
View ArticleMortgage regulator says loan-balance cuts will be studied
WASHINGTON - The head regulator for Fannie Mae and Freddie Mac said Tuesday that a preliminary analysis shows that it might make financial sense for the government-backed mortgage giants to reduce the...
View ArticleEd DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness
To forgive or not to forgive — that is the question. Everyone is waiting for Ed DeMarco — director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac in their government...
View ArticleLenders less leery of reducing homeowners' principal
Principal reduction, long a nonstarter with lenders, has suddenly become a potential reality for thousands of homeowners who owe far more than their houses are worth. Some economists and politicians...
View ArticleShaun Donovan, HUD Chief, Hopes Fannie Mae and Freddie Mac Will Write Down...
After a year of arguing with Fannie Mae and Freddie Mac over the benefits of loan write-downs, the Obama administration is taking another approach: show, rather than tell. Officials are betting that...
View ArticleFannie, Freddie won’t lower mortgage principal, regulator says
WASHINGTON — After a lengthy review, a key federal regulator said Tuesday he would not allow Fannie Mae and Freddie Mac to lower the amount some underwater homeowners owe on their mortgages despite...
View ArticleFannie, Freddie won't lower mortgage principal, regulator says
After a lengthy review, a key federal regulator said Tuesday he would not allow Fannie Mae and Freddie Mac to lower the amount some underwater homeowners owe on their mortgages despite new financial...
View ArticleFannie-Freddie regulator studying loan reductions
WASHINGTON — The federal regulator who oversees Fannie Mae and Freddie Mac is softening his position against allowing the mortgage giants to reduce principal for U.S. borrowers at risk of foreclosure....
View ArticleRegulator Rebuffs Obama on Plan to Ease Housing Debt
WASHINGTON — The independent federal agency that administers Fannie Mae and Freddie Mac said on Tuesday that it would not let the mortgage companies offer debt forgiveness to borrowers, again...
View ArticleRegulator said to mull forgiving mortgage debt
WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac was reviewing a proposal to help troubled homeowners by forgiving a portion of their outstanding mortgage debt, Democrats in the...
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