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 […]

JPMorgan-Chase

JPMorgan-Chase To Honor MLK Dream By Kicking Elderly Civil Rights Activist Out Of Her Home

JPMorgan-Chase Refuses To Give 78 Year Old Hero A $9000 Principal Write Down Steve Dibert, MFI-Miami JPMorgan Chase, like their competitors, has been attempting to improve their public image with an American public who blames them for the recession.   In order to show their commitment to some of the hardest hit segments of economy, […]

Report Claims Banks Are Cutting Principal On Some Mortgages

Ben Berkowitz, Reuters Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported on Sunday. In some cases, the paper said, the banks are slashing the amount borrowers […]

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