11 attorneys general urge FHFA principal reduction

04/12/2012 | Housing Wire

A group of 11 state attorneys general, all Democrats, sent a letter to Federal Housing Finance Agency acting Director Edward DeMarco urging mortgage-principal forgiveness for loans held by Fannie Mae and Freddie Mac. "We will soon see the results of the country's largest banks implementing principal loan reduction as required under the recent Multistate Servicing Settlement," they wrote. "It is now time for the FHFA to accept the fact that principal forgiveness programs help borrowers, help communities and can improve the creditors' bottom line."

View Full Article in:

Housing Wire

Published in Brief: