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Federal Housing Regulator Absurdly Claims Helping Families Keep Their Homes ‘Would Protect Big Banks’

Federal Housing Finance Agency director Edward DeMarco has been facing significant pressure from progressives to allow Fannie Mae and Freddie Mac — the mortgage giants that the FHFA regulates — to reduce outstanding mortgage principal for troubled homeowners. This pressure only intensified following last week’s ProPublica story showing that principal reductions would save taxpayers money [.
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