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Home » Store » Regulation » House Democrats Accuse FHFA of Withholding Principal Reduction Data; DeMarco Still Reconsidering Writedowns

House Democrats Accuse FHFA of Withholding Principal Reduction Data; DeMarco Still Reconsidering Writedowns

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Regulation

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The ongoing feud between Congressional Democrats and the Federal Housing Finance Agency appeared to boil over this week as the FHFA’s head answered back to charges that he’s been holding back pertinent information about the agency’s analysis of principal reductions. In a May 1 public letter to FHFA Acting Director Edward DeMarco, Reps. Elijah Cummings, D-MD, and John Tierney, D-MA, accused the agency head of playing fast and loose with the facts regarding a previously unreported 2010 Fannie Mae pilot program to forgive a borrower’s mortgage debt, as well as the facts buttressing the FHFA’s position...
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