FHFA Shows Little Sign of Allowing Mortgage Principal Write-downs

The Federal Housing Finance Agency, the regulator for mortgage giants Fannie Mae and Freddie Mac, does not seem interested in taking up the Obama Administration up on its proposal to allow the two companies to write-down loan balances for struggling homeowners. In a hearing Tuesday before U.S. senators, FHFA acting director Edward DeMarco continued to [...]

Source: http://www.loan.com/blog/2012/02/29/fhfa-shows-little-sign-of-allowing-mortgage-principal-write-downs/

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