Seeking Alpha

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

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.
Comments (2)
  • Thankfully Mr. DeMarco has the courage to stand up and oppose the efforts of this administration to effectively give another handout to borrowers at the expense of taxpayers.
    31 Jul 2012, 05:18 PM Reply Like
  • I'm shocked, really am <sarc>. The federal govt does not believe in the medicine that they have forced down private lenders throats.
    31 Jul 2012, 07:02 PM Reply Like
DJIA (DIA) S&P 500 (SPY)