FHFA estimates principal forgiveness for all of these mortgages would require funding of almost $100 billion to pay down the loans to the value of the homes securing them.
A principal reduction program for underwater loans held by Fannie Mae and Freddie Mac could cost the government-sponsored enterprises more than $100 billion, according to Federal Housing Finance.
(REUTERS) — The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100. billion in taxpayer aid..
A massive principal reduction program applied to underwater loans held by Fannie Mae and Freddie Mac would cost the mortgage giants more than $100 billion, according to an analysis released by the.
The FHFA stands firm The Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac told lawmakers in a letter today that forcing the two to write down the principle on.
A massive principal reduction program applied to underwater loans held by Fannie Mae and Freddie Mac would cost the mortgage giants more than $100 billion, says to an analysis released Monday by the
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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, has stood firm in his.
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DeMarco has opposed principal reductions for two reasons: first, because he thinks it would cost Freddie and Fannie too much up front, perhaps $100 billion; and second, because he believes.
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Rather than highlighting these and other pertinent facts, you chose to begin your letter with a highly inflammatory statement that was quickly cited by the press-that it would cost American taxpayers $100 billion to reduce principal on all three million underwater mortgages owned or guaranteed by Fannie Mae and Freddie Mac.
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The Federal housing finance agency announced the decision Tuesday after months of considering the option. The agency’s acting director, Edward DeMarco, has long opposed allowing Fannie and Freddie to.
The critical point made in the Democratic Congressmen’s letter to FHFA is this: Director DeMarco’s widely reported claim that principal write-downs on Fannie and Freddie mortgages will cost taxpayers $100 billion is simply false. There are two reasons the statement is a complete misrepresentation.