FHFA: Principal reduction would cost Fannie, Freddie $100 billion

FHFA: Principal reduction would cost Fannie, Freddie $100 billion

The FHFA has the express mandate to minimize losses to the taxpayers. In an earlier analysis, the regulator said it would cost Fannie Mae and Freddie Mac – in other words taxpayers- $100 billion to reduce mortgage balances.

 · The Treasury Secretary said that FHFA’s own analysis estimates that a principal reduction program could help half a million borrows and save Fannie and freddie .6 billion.

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(REUTERS) — The regulator for Fannie Mae and Freddie mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion.

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(REUTERS) — The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion in fresh taxpayer funds.

The Federal Housing. that principal reduction is consistent with the goal of saving taxpayer money that was used to bail out Fannie and Freddie. Two weeks ago, he wrote in a letter to Congress that.

 · The federal housing finance agency announced the decision this week after months of considering the option.. Fannie and Freddie to offer principal reduction.. would cover part of the cost.

 · The Treasury Secretary said that FHFA’s own analysis estimates that a principal reduction program could help half a million borrows and save Fannie and Freddie $3.6 billion in the process. Paul.

Elijah Cummings, left, and Federal Housing. having Fannie and Freddie participate in a recently expanded white house principal-reduction program, though he’s pointed out the drawbacks to doing so,

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The FHFA delayed its ruling for allowing Fannie and Freddie Mac to participate in the HAMP principal reduction effort. In a speech earlier in April, DeMarco said preliminary analysis could save the.

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