DeMarco says FHFA will not consider principal write-downs

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.. Suffice it to say the CBO assumed a can.

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States Say Federal housing finance agency Is "Direct Impediment To Economic Recovery". calling for removal of acting FHFA head Edward DeMarco.. to consider principal write-downs as part. Obama to Replace DeMarco at FHFA posted by Alan White.. for example on principal write-downs and cracking down on mortgage servicer errors and abuses.

The FHFA’s acting director, Edward DeMarco, has rebuffed calls for principal write-downs, saying they would result in bailout. single-family mortgage market will not go away,” the agency said..

 · FHFA Says Principal Writedowns by GSEs Would Cost $100B 01/23/2012 By: Carrie Bay 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 borrower owed more on the loan that the home was worth. FHFA estimates principal forgiveness.

DeMarco says FHFA will not consider principal write-downs HousingWire. DeMarco says FHFA will not consider principal write-downs HousingWire. Oct 31st. Big Las Vegas project cleared to exit bankruptcy – CNBC.

Long resistant to the idea of principal write-downs. Even so, DeMarco cautions that FHFA must consider all options and take into consideration the negative equity borrowers who still pay their.

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The Dobbinses, who say they were victims of a high-interest. and housing advocates over the benefits of principal write-downs. Edward J. DeMarco, acting director of the Federal Housing Finance.

Remarks as Prepared for Delivery Edward J. DeMarco, Acting Director, Federal Housing Finance Agency. despite recent improvements, it is hard to say the markets are fully normalized. For example, according to the Mortgage Bankers Association, the share of mortgages that were past due in the.

Though fewer than 50,000 borrowers had received a principal reduction as part of a loan modification under the program as of the end of 2012, state officials say that enough evidence has accrued to prove that loan write-downs work, and that they do not lead to a run of intentional defaults, as opponents like DeMarco claim.

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