DeMarco in the hot seat over stand on foreclosures

03/16/2012 | FoxNews.com

Democratic lawmakers such as Rep. Barney Frank and consumer groups are asking for Edward DeMarco, head of the Federal Housing Finance Agency, to resign or be fired by President Barack Obama. Mr. DeMarco is being criticized for refusing to let Freddie Mac and Fannie Mae write down principals for underwater homeowners. Mr. DeMarco contends it's not fair to use the government-backed agencies to prevent foreclosures.

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