FHFA head Edward DeMarco says the benefits of principal writedowns don't outweigh the costs or...

|By:, SA News Editor

FHFA head Edward DeMarco says the benefits of principal writedowns don't outweigh the costs or risks. In an open letter on its website DeMarco states that after extensive analysis of the various programs, the FHFA has concluded principal forgiveness did not clearly improve foreclosure avoidance while reducing costs to taxpayers relative to the agencies current approaches.