FHFA's DeMarco rejects criticism of housing-market efforts

Edward DeMarco, acting director of the Federal Housing Finance Agency, denied that the agency isn't doing enough to revive the housing market. The FHFA recently announced an overhaul of a program to help underwater homeowners refinance their mortgages. Critics argue that Mr. DeMarco has interpreted the agency's mandate too narrowly. "Some of those things that are being advocated for us to do really go beyond what Congress has given us the authority to do," Mr. DeMarco said.

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