Comments on: SPEECH | Edward J. DeMarco – Addressing the Weak Housing Market: Is Principal Reduction the Answer? https://4closurefraud.org/2012/04/10/speech-edward-j-demarco-addressing-the-weak-housing-market-is-principal-reduction-the-answer/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Wed, 11 Apr 2012 00:42:05 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: Kr Hunt https://4closurefraud.org/2012/04/10/speech-edward-j-demarco-addressing-the-weak-housing-market-is-principal-reduction-the-answer/#comment-368696 Wed, 11 Apr 2012 00:42:05 +0000 https://4closurefraud.org/?p=45491#comment-368696 Ultimately if the real estate market does not stablize and values start increasing more defaults will occur. Offering principal reductions may bring about that necessary condition quicker then any other strategy used so far.

]]> By: keepon https://4closurefraud.org/2012/04/10/speech-edward-j-demarco-addressing-the-weak-housing-market-is-principal-reduction-the-answer/#comment-368665 Tue, 10 Apr 2012 22:43:15 +0000 https://4closurefraud.org/?p=45491#comment-368665 Ed DeMarco, head of the Federal Housing Finance Agency — which oversees Fannie and Freddie — has stood in the way of (principal) reductions and he’s claimed the support of Fannie and Freddie. But that’s no longer the case. Even Fannie and Freddie now support principal reductions. It’s time for Ed DeMarco to step aside by signing this Whte House petition:

https://wwws.whitehouse.gov/petitions/!/petition/push-fannie-mae-and-freddie-mac-issue-principal-reductions-underwater-homeowners/qtS3crg7

“Senator Demands Answers from Freddie Mac’s Regulator” ( Acting Director Edward DeMarco)
http://www.propublica.org/article/senator-demands-answers-from-freddie-macs-regulator

ProPublica and NPR reported on Monday [1] that Freddie Mac, the taxpayer-owned mortgage-insurance company, placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates.

Questions the senator put to the regulator, the Federal Housing Finance Agency, include why Freddie made the deals in the first place, when the FHFA learned of the trades, what role, if any, the FHFA played in them, and what the FHFA plans to do about the billions of dollars worth of deals Freddie still has on its books.

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