Relevant:
- Below the Fold: Ed DeMarco Should Do His Job -- It's a Matter of Principal
- Edward DeMarco Threatens Action Against Communities Weighing Principal Reduction Proposal
- Congressmen: "DeMarco Lying About Principal Reductions"
- Principal reduction isn't ideal fix for foreclosures, official says
- White House Must Free Fannie Mae, Freddie Mac On Principal Reduction, Remove Ed DeMarco
2012-07-31 — mortgagenewsdaily.com
In a letter to the Chair and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs DeMarco rebuffed an offer to use funds from the Toxic Asset Relief Program (TARP) to assist borrowers and said, "After much study, I have concluded the Fannie Mae and Freddie Mac's adoption of HAMP PRA would not make a meaningful improvement in reducing foreclosures in a cost effective way for taxpayers."
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