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Tag Archives: Home Affordable Modification Program Principal Reduction Alternative

Fannie, Freddie chief’s rejection of mortgage reductions has bankers smiling

  Fannie Mae and Freddie Mac won’t be taking part in the Obama administration’s home mortgage principal reduction program. That’s bad news for underwater homeowners but cause for rounds of high-fives among executives in the nation’s financial sector. The setback for homeowners came Tuesday when Federal Housing Finance Agency Acting Director Ed DeMarco bowed to pressure from Wall Street and ...

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