Warren cited a Congressional Budget Office report from 2013 that determined a modest principal reduction plan could help
The White House declined to comment. "Congressman Watt is more knowledgeable on these issues and more committed to putting
On the housing front, the good news is that the president wants Mel Watt to head the FHFA. The really bad news is that the problems in the U.S. housing system are currently so entrenched that, even if he is confirmed, Mel Watt will be hard-pressed to resolve them.
Prices of Fannie Mae and Freddie Mac-backed mortgage bonds that held high-interest rate loans fell on Wednesday, according
BOSTON -- President Barack Obama will nominate Mel Watt, a longtime Democratic congressman from North Carolina, to oversee
The two agencies help finance two-thirds of new U.S. home loans, but were seized by the government in the 2008 economic crisis
Homeowner advocates charge that in focusing on profitability and dissolution, Fannie and Freddie, which buy loans for resale
For more than five years, many homeowners who complained about mortgage industry foreclosure abuses have wondered whether anyone with a financial stake in keeping them in their home was paying attention. On Thursday, with the release of a new report from a federal watchdog, they got their answer: No.
A homeowner advocate, and a lawmaker who has been a frequent critic of DeMarco and the FHFA, said that the report was further
Since then, the state attorneys general who negotiated the deal have repeatedly criticized DeMarco for refusing to allow
Given the stark ideological differences between the president and a severely conservative House of Representatives, and the
It is impossible to say how much lending should be taking place. More than 11 million homeowners are underwater on their
Though most homeowners associate their mortgage with the bank or other financial institution that mails them their monthly
The administration has data to support the strategy. Studies have found that widescale principal reductions would save money
On Thursday, the Federal Housing Finance Agency, which DeMarco oversees as acting director, threatened to take action against
With an estimated $2.5 billion bankroll by the time this presidential election is said and done, you'd think pretty much every important issue would get its place in the sun. Well, as it turns out, you don't always get what you pay for.
In recent weeks, several other entities offered rival proposals, including one suggestion that the county fund the purchase