FHFA Head Vows Quick Decision On Mortgage Debt Reductions

Law360, New York (April 4, 2012, 6:29 PM EDT) -- The head of the federal agency overseeing Fannie Mae and Freddie Mac will soon make a decision on whether the mortgage giants can cut the amount of money underwater homeowners owe on their mortgages, he said Wednesday.

Edward J. DeMarco, acting director of the Federal Housing Finance Agency, said at a meeting of the Boston Security Analysts Society that he was still reviewing the U.S. Department of the Treasury's offer to increase the support it would provide to Fannie and Freddie if they engaged in principal...
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