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HUD Secretary Makes Case for Mortgage Write-Downs

The regulator for Fannie Mae and Freddie Mac could have a ?legal responsibility? to approve loan modifications for certain homeowners now that the U.S. Treasury has offered to share in the cost of mortgage write-downs.
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‘Fannie, Freddie writedowns too costly’

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The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the government-controlled mortgage firms to write down the principal on underwater home loans would require more than $100 billion in fresh taxpayer funds. |||...

FANNIE AND FREDDIE WILL NOT LET HOMEOWNERS WRITE DOWN PRINCIPAL

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FANNIE MAE AND FREDDIE MAC WILL NOT WRITE DOWN MORTGAGES This news is just breaking now via Bloomberg and CNBC. What does this mean? Basically, The Treasury has been pressuring the GSEs to allow for some kind of homeowner principle ...

HUD Secretary Donovan Calls On Fannie Mae And Freddie Mac To Do More For Troubled Homeowners

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Government backed mortgage giants Fannie Mae and Freddie Mac — at the behest of their regulator, the Federal Housing Finance Agency, and its acting director, Edward DeMarco — have not been writing down loan principal for troubled ho...

Geithner: Fannie and Freddie Favor Loan Write-Downs

Business & Finance / Real Estate : Developments - WSJ.com

Treasury Secretary Timothy Geithner said Wednesday he believes that mortgage giants Fannie Mae and Freddie Mac favor writing down loan balances for troubled U.S. homeowners, despite resistance from their regulator.

Fannie Mae, Freddie Mac to offer simpler, no-doc loan modifications

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In a push to simplify loan modifications, many borrowers who become 90 days or more past due on mortgages backed by Freddie Mac and Fannie Mae will be offered lowered payments without having to prove hardship, the federal regulator ...

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