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DeMarco says FHFA will not consider principal write-downs

DeMarco says FHFA will not consider principal write-downs HousingWire. DeMarco says FHFA will not consider principal write-downs HousingWire. Oct 31st. big las vegas project cleared to exit bankruptcy – CNBC.

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Fannie, Freddie Consider Mortgage Write-Downs .. Financial executives at Freddie Mac and Fannie Mae say principal reduction for many homeowners facing foreclosure would prevent larger losses and keep people in their homes..

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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.

While the Obama administration may be pondering the idea of helping underwater homeowners through principal write-downs, Federal Housing Finance Agency Director Edward DeMarco said there is no.

While not as critical an issue as, say, job growth when it. have been stepping up pressure on the Federal housing finance agency (fhfa), the conservator of the two bailed out mortgage giants, to.

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.

DeMarco: Principal Reductions May Save FHFA $1.7 Billion. The principal write-downs in question are part of the recently approved nationwide foreclosure settlement agreement.. There is still.

See Federal Housing Finance Agency, “Foreclosure Prevention Report: Second.. As of this writing, for example, the GSEs do not permit principal forgiveness in. Mae and Freddie Mac granted principal write-downs on no loans.59.. See Letter from DeMarco to Cummings; Office of the Comptroller of the Currency, ” OCC.

Mortgage principal write downs are not a Republican v. Democrat issue. At least they should not be. But just as global warming apologists and deniers split down party lines without much to connect the deep roots of conservative ideology or progressive tradition, so too have mortgage modifications become a partisan issue.

Edward J. DeMarco says data show Fannie and Freddie could save about $1.7 billion by writing down the principal for some homeowners.. Fannie, Freddie might save by reducing mortgage loan balances, FHFA chief says. He made clear, however, that the new calculations are not enough to persuade.

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