Fannie And Freddie Principal Reductions: Election Year Wrangling?

FHFA Regulator, Edward DeMarco, charged with oversight of mortgage giants Fannie Mae and Freddie Mac, is under heavy pressure from the Obama administration and Democrats in congress to allow reductions of mortgage principal for qualified borrowers.

Fannie and Freddie Mortgage Write Downs – Another Bailout For Big Banks

Fannie and Freddie regulator Edward DeMarco, the acting Director of FHFA, is taking a lot of heat for his reluctance to write down first mortgages for underwater homeowners. But DeMarco is rightly pointing out that the push to write down the first mortgages is merely a form of protectionism for the four largest banks in the U.S. – JP Morgan Chase, Wells Fargo, Citigroup, and Bank of America.

Understanding The Mortgage Settlement

Last week’s big mortgage settlement between states, the federal government and America’s five biggest banks was the largest of its kind in history, amounting to some $25 or $26 billion. Unsurprisingly, the question on everybody’s lips now is, who is eligible and how will they benefit?

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