FHFA delays principal reduction ruling

Read more: AIG ruling was helpful. MarketWatch: You have repeatedly called for principal reduction on mortgages. Are you disappointed that the FHFA’s current director, Mel Watt, has not embraced.

Mel Watt attempted to ‘coerce’ employee into relationship budding housing crisis must be nipped now Trump announces housing-finance, market watchdog nominees MORE, director of the Federal Housing.

The New Principal Reduction Mortgage Loan Modifications I. FHFA Principal Reduction Mortgage Modification Program On April 14, 2016, The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac would offer principal reduction to certain seriously delinquent, underwater

The Federal Housing Finance Agency (FHFA or Agency) is providing notice and inviting comment on a proposed rule to improve the liquidity of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the Enterprises) To-Be-Announced (TBA).

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Elizabeth Warren is on the hunt again – The activists cheered. She scolded FHFA chief Mel Watt for postponing action on principal reduction for struggling homeowners. "Evidently there is no need for delay, no need for further study, if the.

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Press Reports Indicate FHFA Will Allow Limited Principal. –  · In a recent speech, however, FHFA Director Watt said only, “. I expect to announce a decision within the next 30 days about whether we have been able to find a “win-win” principal reduction strategy or whether, on the other hand, we will take principal reduction off the table entirely.

A proposed rule change filed under Rule 19b-4(f)(6) 21 normally does not become operative for 30 days after the date of filing. However, pursuant to Rule 19b-4(f)(6)(iii),22 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest.

The FHFA is still mulling over principal reduction and determining whether a targeted principal reduction effort would be efficacious, but it’s plausible that the FHFA may not embrace a large-scale.

After tacitly supporting the policy and hinting at a definitive approach, the FHFA has delayed its decision on principal reductions. Facing mounting support for the policy, Acting Director Ed DeMarco reversed himself somewhat in early April when he came out in favor of a principal reduction program with limited scope and specific targets among the nation’s distressed homeowners.