Relevant:
- White House Must Free Fannie Mae, Freddie Mac On Principal Reduction, Remove Ed DeMarco
- Fannie, Freddie leader's mortgage-cutting dilemma
- Ed DeMarco, Top Housing Official, Defies Treasury, Shoots Down Principal Reduction
- Tim Geithner's principal hypocrisy
- Housing Finance Boss Blocked Principal Reductions, Hid Data Showing They Work, Dems Allege
2012-03-29 — propublica.org
For months now, the White House and the head of the regulator overseeing Fannie Mae and Freddie Mac have clashed over principal reductions for struggling homeowners. The Obama administration says that reducing the amount borrowers owe is essential to the housing recovery. Edward DeMarco, acting director of the Federal Housing Finance Agency, maintains that principal reductions would cost too much for the taxpayer-owned companies.
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