Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) could save $1.7B by forgiving principal on some...

|About: Fannie Mae (FNMA)|By:, SA News Editor

Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) could save $1.7B by forgiving principal on some problem loans, FHFA Acting Director Edward DeMarco said yesterday. However, the net cost to the taxpayer would be $2.1B, as the savings would come from Treasury incentives via the expanded Home Affordable Modification Program and using TARP funds.