DeMarco says FHFA will not consider principal write-downs

In a news release Tuesday, DeMarco did not promise that the FHFA’s new rules. though they did say the new rules are better than nothing. "This announcement doesn’t do anything about the cost," said.

Ed DeMarco, Director of the Federal Housing Finance Agency has announced that FHFA, the regulator charged with managing Fannie Mae and Freddie Mac, will not allow the two mortgage giants to write.

– States Say Federal Housing Finance Agency Is "Direct Impediment To Economic Recovery". calling for removal of acting FHFA head Edward DeMarco.. to consider principal write-downs as part. DeMarco: FHFA Is Weighing The Costs Of Write-Downs – Edward DeMarco, acting director of the Federal Housing finance agency (fhfa), has signaled that.

The current head of FHFA, Ed DeMarco, has steadfastly refused to consider principal mods because he views them as a losing proposition to the taxpayer. As FHFA Chairman, Mel Watt would probably.

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The analyses, which have not been made public. out on a limb when I say that Eisinger doesn’t think DeMarco and the FHFA are pursuing a good policy here. DeMarco favors principle forbearance. The.

The Dobbinses, who say they were victims of a high-interest. and housing advocates over the benefits of principal write-downs. Edward J. DeMarco, acting director of the Federal Housing Finance.

While not as critical an issue as, say. Mac FMCC to reduce principal on loans. Democrats have been stepping up pressure on the Federal Housing Finance Agency (FHFA), the conservator of the two.

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New York Attorney General Eric Schneiderman has some legal advice for the White House: It can ax Edward DeMarco without Congress’ OK. Federal law gives President Obama the ability to remove the Federal Housing Finance Agency’s acting director and replace him with one of three deputies, Schneiderman’s office concludes in a memo obtained Thursday by news outlets.

The positive impact of mortgage modifications which often include principal write-downs continues to be felt on the housing market, economy, and our local communities. The FHFA’s continued position that principal forgiveness conflicts with its goal of asset preservation is "not supported by reality," the attorneys general assert in the letter.

I have concluded that Fannie Mae and Freddie Mac’s adoption of HAM PPRA would not make a meaningful improvement in reducing foreclosures in a cost effective way for taxpayers. There is more to the.