Breaking Down DeMarco’s Brookings Speech on Principal Reduction

By: Tuesday April 10, 2012 1:30 pm

Ed DeMarco, the Acting Director of the Federal Housing Finance Agency for the past three years, will deliver a speech today at the Brookings Institution that leans in the direction of allowing principal reduction on Fannie and Freddie-backed loans in certain cases. This is definitely a crack in the otherwise rigid objection to principal reduction on these loans, but his preliminary analysis suggests the idea may not produce that great an effect.

 

Foreclosure Fraud Settlement Docs (II): Giving Homes to Charity as a Penalty

By: Tuesday March 13, 2012 9:15 am

Part II in this series discusses credits the banks get towards meeting their multi-billion dollar settlement obligations. The federal government and state AGs want you to assume that means a set amount of principal reductions that the banks will grant. But in reality, the banks can employ a variety of non-modification strategies to receive credit toward the settlement, including a number of routine actions they would probably undertake whether or not there was a settlement in place.

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