Take a Load Off, Fannie: Principal Reduction Is Overdue
There's a growing consensus among economists, investors, academics, and consumer advocates that more "principal reduction" -- writing off a portion of a mortgage that exceeds a home's value in...
View ArticleAttorney General Martha Coakley tells Fannie Mae and Freddie Mac to reduce...
Massachusetts Attorney General Martha Coakley is urging mortgage giants Freddie Mac and Fannie Mae to do more to prevent “unnecessary foreclosures,” including by reducing loan principal for homeowners...
View ArticleDemocrats step up pressure for mortgage write-downs
WASHINGTON -- A day after President Barack Obama announced new offers of mortgage relief to troubled homeowners, a bloc of Democrats sought to increase pressure on him to do more. A half-dozen...
View ArticleGeithner Vows to Press for Writedowns for Underwater Home Loans
U.S. Treasury Secretary Timothy F. Geithner, twice rebuffed, is vowing to try a third time to persuade the Federal Housing Finance Agency to allow principal forgiveness on mortgages backed by Fannie...
View ArticleAfter Mortgage Settlement, Fannie Mae, Freddie Mac Face Renewed Pressure On...
Top law enforcement officials in several states are signaling they will pressure Fannie Mae and Freddie Mac to correct what is widely seen as one of the biggest deficiencies of the $25 billion...
View ArticleFannie Mae, Freddie Mac regulator defends write-down opposition
Reporting from Washington— Under increasing pressure from Democrats to do more to stem foreclosures, the regulator for Fannie Mae and Freddie Mac on Tuesday strongly defended his opposition to...
View ArticleOpposition From Freddie and Fannie Stalls Debt Reduction
Home values have fallen so much in Arizona that almost half the people with mortgages there owe more than their homes are worth. So when federal money became available to help stem the tide of...
View ArticleFannie Mae And Freddie Mac: Homeowner Loan Forgiveness Would Save Us Money
Ed DeMarco, who oversees Fannie Mae and Freddie Mac, opposes principal reductions, which the mortgage giants say could save them money. By Jessie Eisinger, ProPublica and Chris Arnold, NPR New...
View ArticleForgive Debt and Save the Housing Market
The evidence is growing: Mortgage-debt forgiveness is good for borrowers and lenders alike. The editors at Bloomberg View have long argued that mere reductions in interest payments won’t do much to...
View ArticleRegulator says no to Obama mortgage write-down plan
WASHINGTON (Reuters) - The top housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House which is keen to show voters it...
View ArticleMortgage regulator stands firm against pressure for write-downs
WASHINGTON -- A little-known career bureaucrat temporarily filling a key government job has emerged as the person with the most impact on the nation's battered housing market - and is rapidly making...
View ArticleUS regulator says no to Obama mortgage write-down plan
SHARE AND DISCUSS Tweet WASHINGTON: The top US housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to...
View ArticleEdward DeMarco, Housing Chief, Won't Budge On Principal Reduction, Despite...
Edward DeMarco isn't ready to blink on principal reductions, even though doing so could save Fannie Mae and Freddie Mac $1.7 billion. On Tuesday, DeMarco, the acting director of the Federal Housing...
View ArticleFannie and Freddie drop the ball
The following editorial appeared in the Los Angeles Times on Friday, March 2: Home prices plunged by almost a third in major U.S. cities after the housing bubble burst, and the glut of foreclosures...
View ArticleEdward DeMarco, Housing Chief, Not Ready For Principal Reduction, Despite...
Edward DeMarco isn't ready to blink yet on principal reductions, even though doing so could save Fannie Mae and Freddie Mac $1.7 billion. On Tuesday, DeMarco, the acting director of the Federal...
View ArticleSpecial master: Mortgage crisis a 'Gordian knot'
PPROVIDENCE, R.I. - A former bank executive working to hasten a resolution to hundreds of foreclosure disputes in Rhode Island's federal courts calls the mortgage crisis a "Gordian knot" and says debt...
View ArticleR.I. Sen. Whitehouse backs loan write-downs / Poll
PROVIDENCE, R.I. (AP) -- Sen. Sheldon Whitehouse on Friday called on the head of the federal agency that oversees mortgage giants Fannie Mae and Freddie Mac to allow...
View ArticlePrincipal reduction isn't ideal fix for foreclosures, official says
Reporting from Washington— The regulator over Fannie Mae and Freddie Mac pushed back against mounting pressure that the mortgage finance giants start reducing the principal owed on troubled loans,...
View ArticleFederal regulator sees no benefit in reducing troubled loans
WASHINGTON -- The federal regulator for government-backed mortgage giants Fannie Mae and Freddie Mac said Tuesday that he would not allow the firms to reduce loan balances of troubled borrowers,...
View ArticleCalls for mortgage assistance get louder in Washington
WASHINGTON -- Pressure is mounting on a key federal regulator to allow mortgage giants Fannie Mae and Freddie Mac to reduce loan principal amounts for struggling homeowners, after disclosures that a...
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