Despite Delay, FHFA Likely To Allow Mortgage Relief

Law360, New York (April 30, 2012, 7:33 PM EDT) -- Although the agency overseeing Fannie Mae and Freddie Mac postponed a decision originally due Monday on whether to let them cut mortgage balances for underwater homeowners, observers say the delay could increase the chance the failed mortgage giants will engage in principal reduction.

Federal Housing Finance Agency Acting Director Edward J. DeMarco said earlier in April that the agency would make a decision by the end of the month on whether it would allow Fannie and Freddie to use principal reductions as part of their toolkit...
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