DeMarco says FHFA will not consider principal write-downs

 · NPR reported Friday that Fannie Mae and Freddie Mac might consider principal reduction as a means to help underwater homeowners. Edward DeMarco, acting director of the FHFA.

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 · The Federal Housing Finance Agency (FHFA) says as of June 30, 2011, Fannie Mae and Freddie Mac held nearly 3 million first lien mortgages in which the.

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.

Edward J. DeMarco, acting director of the Federal Housing Finance Agency (FHFA) The independent overseer over Fannie Mae and Freddie Mac should be replaced with someone who will support aggressive measures to help the millions of struggling “underwater” homeowners through mortgage principal reductions, stated a group of 45 U.S. representatives in a letter to President Obama.

Mortgage rates plummet to new lows S&P predicts more home price declines through 2011 What’s Ahead for Home Prices in 2012 – Zandi says that further home-price declines nationwide will be limited. mortgages fell to 3.94% in the first week of October 2011, according to Freddie Mac. The past couple of years’ predictions.Mortgage rates were. the bond market (which determines rates) will be watching economic data closely, both at home and abroad. The stronger the data, the more rates could rise, while weaker data.

The current head of FHFA, Ed DeMarco, has steadfastly refused to consider principal mods because he views them as a losing proposition to the taxpayer. As FHFA Chairman, Mel Watt would probably.

In a news release Tuesday, DeMarco did not promise that the FHFA’s new rules. though they did say the new rules are better than nothing. "This announcement doesn’t do anything about the cost," said.

Contents Fannie mae officials supported Save taxpayer money mortgage fanatic: negative Housing finance agency Secretary shaun donovan testifies FHFA’s current director, Edward DeMarco, has refused to enact this policy-leading to a progressive "Dump DeMarco" campaign. The administration presumably had this in mind when it nominated Watt-who.

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