Volume 2011 - Number 48
December 16, 2011
Will GSE Regulator Give Ground on Principal Reductions For Fannie Mae and Freddie Mac Distressed Mortgages?
While Federal Housing Finance Agency Acting Director Edward DeMarco has been steadfast in his refusal to consider principal reductions for Fannie Mae and Freddie Mac loans, there are indications he may allow a new principal paydown proposal. Many consumer protection groups and regulators argue that principal reductions will protect, instead of degrade, taxpayers’ investment in the government-sponsored enterprises. Principal reduction can help revive a housing market that continues to be stressed by declining house prices and weak economic fundamentals, they say. Principal reductions have taken...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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