The FHFA Is The G-Men: The Next Generation

Office of Inspector General on the prowl for strategic defaulters By Lew Sichelman, United Feature Syndicate via Chicago Tribune Strategic defaulters, beware. The feds are coming for you. And they are not happy. Not the FBI. The Office of the Inspector General at the Federal Housing Finance Agency. The OIG may not have the same […]

DeMarco Caves, Will Allow Principal Write Downs In California

Fannie and Freddie to allow principal reductions Troubled borrowers whose loans are owned or guaranteed by the mortgage giants will now be able to participate in Keep Your Home California and other states’ programs that shrink mortgages. Alejandro Lazo, Los Angeles Times In a rare victory for proponents of principal reduction,Fannie Mae and Freddie Mac said they will […]

DeMarco Finally Gets Around To Drafting White Paper On Fannie/Freddie Reform

Kerri Ann Panchuk, Housing Wire Federal Housing Finance AgencyActing Director Ed DeMarco shared a tentative plan on government-sponsored enterprise reform while speaking to the American Mortgage Conference in Raleigh, N.C., on Monday. DeMarco noted the FHFA is drafting a white paper on the topic and plans to release it next month. In February 2011, the Treasury released […]

Fannie Mae

MFI-Miami Accuses Fannie Mae Of Illegally Foreclosing On Michigan School Teacher

MFI-Miami Accuses Fannie Mae Of Lack of Standing Flint, MI – On August 28, 2012, MFI-Miami President Steve Dibert called on Fannie Mae to halt what he alleges is an illegal foreclosure and eviction of Flint Michigan School Teacher Amy Plumb. On January 2, 2003, Ms. Plumb, a single parent with two teenage daughters refinanced […]

Obama Finds No Easy Way To Buoy U.S. Homeowners Deep Underwater

Clea Benson, Bloomberg Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, stood in the beating sun amid the scrapyards and vacant lots of Cleveland’s East Side and noted that rising home prices have begun to reduce the number of families whose mortgages exceed the value of their homes. The ranks of underwater borrowers nationwide […]

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