Fannie And Freddie Fail On Oversight of Foreclosure Contractors

Ben Hallman, Huffington Post Fannie Mae and Freddie Mac failed to keep tabs on thousands of contractors hired to manage more than 1 million foreclosed homes, possibly exposing the mortgage giants to double billing or charging for work that was never done, according to an alarming Federal Housing Finance Agency report. Problems identified in the […]

FHFA Puppet Master Caught Lying To Congress About Write Downs

Fannie Mae backed principal reductions, internal documents show Jim Puzzanghera, LA Times Fannie Mae officials supported principal reductions for some struggling homeowners in 2009 and believed they would save taxpayer money, but a pilot program set to start a year later was abruptly canceled apparently for ideological reasons, according to internal documents obtained by two House Democrats. […]

DeMarco Defers Decision On Principal Write-Downs

Fannie, Freddie leader’s mortgage-cutting dilemma Kathleen Pender, San Francisco Chronicle Ed DeMarco, the man who oversees Fannie Mae and Freddie Mac, is still mulling whether to allow permanent principal reductions on mortgages owned or guaranteed by the taxpayer-supported entities. DeMarco, acting director of the Federal Housing Finance Agency, said he would have a decision by […]

I was quoted in the Michigan Messenger About The FHFA Lawsuits

Feds sue banks over toxic mortgage securities Todd Heywood, Michigan Messenger The Federal Housing Finance Agency filed suit Friday against 17 national and international banking giants for their roles in the toxic mortgage securities scandal that led to the current housing crisis. The banks include Bank of America, Citigroup, Countrywide, JP Morgan Chase and others, […]

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