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Why DeMarco Won't Allow Principal Corrections Despite Instructions

12 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

Housing Regulator Defies White House Obama’s Next Move Unknown Editor’s Comment and Analysis: It’s unanimous! Except for DeMarco, the housing regulator who won’t let Fannie and Freddie cooperate with principal reductions. Why not? “The Federal Housing Finance Agency’s own analysis has shown that principal reduction could help up to 500,000 homeowners and save taxpayers as …

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Principal Reduction: A Step Forward by BofA, Wells Fargo

14 Comments / bubble, CDO, Corruption, currency, Eviction, expert witness, foreclosure, Forensic Analysis Workshop, GTC | Honor, Investor, Modification, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, Statutes, workshop / By

Editor’s Note: Better late than never. It is a step in the right direction, but 30% reduction is not likely to do the job, and waiting for mortgages to become delinquent is simply kicking the can down the road. The political argument of a “gift” to these homeowners is bogus. They are legally entitled to …

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