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Your Move, White House: DeMarco's Ideological Insurgency Must End

Peter S. Goodman | Posted 10.05.2012 | Business
Peter S. Goodman

The time has long since arrived for Edward J. DeMarco to pursue his other opportunities in the private sector, whatever they may be. DeMarco, you may...

Below the Fold: Ed DeMarco Should Do His Job -- It's a Matter of Principal

Richard Zombeck | Posted 10.02.2012 | Business
Richard Zombeck

Acting Federal Housing Finance Agency (FHFA) Director Ed DeMarco has not been shy about letting underwater homeowners sink. This week, he made it painfully clear that despite the Administration calling for principal reduction, he would have no part of it.

"F" The Bureaucracy - The White House Can Help Homeowners Right Now

Richard (RJ) Eskow | Posted 10.01.2012 | Politics
Richard (RJ) Eskow

President Obama can make the moral case for America's homeowners in a clear, strong voice. So far he hasn't done that -- partly because some key members of his team buy into the unfair notion that underwater homeowners, unlike Wall Street bankers, don't deserve to be helped.

Could Wall Street Save the Housing Market?

Tom Silva | Posted 09.23.2012 | Business
Tom Silva

What will solve the housing crisis? The Keynesians think it's a government bailout and the Hayekians think it will ultimately be the invisible hand and spontaneous order of supply and demand that will ameliorate the underwater single-family home sector.

A Foreclosure Film in the Making Awaits Final Scene

Joel Sucher | Posted 08.24.2012 | Politics
Joel Sucher

What do an insurance agent in Tennessee, a homemaker in Ohio, a private investigator from Wisconsin and a helicopter stunt pilot in Hollywood have in common?

Ben Hallman

Fannie And Freddie Fail On Foreclosure Contractor Oversight | Ben Hallman | Posted 06.19.2012 | Business

Fannie Mae and Freddie Mac failed to keep tabs on thousands of contractors hired to manage more than 1 million foreclosed homes, possibly exposing the...

Bleeding Cash Conservatives: Moral Principle Trumps Rational Pragmatism

Peter S. Goodman | Posted 08.03.2012 | Business
Peter S. Goodman

Not so long ago, the term "bleeding heart liberal," had currency in American politics as a way to accuse someone of costly naïveté. These days we need a new term to describe a strain of politics that has become dominant in many areas of concern, from the foreclosure crisis to long-term unemployment: We are living through what may be called the age of "bleeding cash conservatism."

Ben Hallman

California Lawmakers Say Housing Group Cares More About Banks Than Homeowners | Ben Hallman | Posted 05.30.2012 | Business

The Federal Housing Finance Agency is well on its way to a remarkable achievement: proving less popular, among housing groups, than even the banks who...

America's Top Housing Official Must Aid Struggling Homeowners

Preeti Vissa | Posted 07.14.2012 | Business
Preeti Vissa

The rest of the country is inching forward on tangible progress, but Edward DeMarco could do more than anyone. The need is as urgent now as it ever was.

Fannie Mae's Approval of Mortgage Principal Reductions Gets the Silent Treatment

Anna Cuevas | Posted 07.04.2012 | Money
Anna Cuevas

Edward DeMarco, Acting Director of the FHFA, indicated that additional analysis would have to be performed to determine the long-term benefits of principal reductions.

Michael McAuliff

Dems: Mortgage Boss Hid Proof Obama's Mortgage Breaks Would Save Billions | Michael McAuliff | Posted 05.01.2012 | Politics

WASHINGTON -- Democrats on the House Oversight Committee on Tuesday accused the head of the Federal Housing Finance Agency -- who has refused to follo...

Principal Reduction: But One Tool for Home Repair

Jared Bernstein | Posted 10.25.2012 | Business
Jared Bernstein

Suppose you are going to repair your damaged home and your only tool on hand is a roll of duct tape. Your resourceful neighbor points out that you could probably also use a hammer, a drill, and a saw. If you're the FHFA, you tell him, "I can do a better job with just my duct tape, so thanks but no thanks." That, in a nutshell, is the problem with the most recent analysis by this key regulator of the mortgage giants Fannie Mae and Freddie Mac when it comes to adding the tool of principal reduction to their anti-foreclosure toolkit. They've made progress in their evaluation of the costs and benefits of loan forbearance and loan forgiveness, but, somewhat bewilderingly, they appear to be comparing the two as if they were mutually exclusive.

DeMarco Speaks! (With Closed Captioning for the Mortgage-Impaired)

Richard (RJ) Eskow | Posted 06.10.2012 | Politics
Richard (RJ) Eskow

DeMarco's still an unelected ideologue with too much power, and he still needs to go. But yesterday, he finally spoke up. To anyone with the right political or emotional closed-captioning device the message was loud and clear: Don't rush me, Mr. President -- and find yourself another fall guy.

White House Wants Fannie Mae, Freddie Mac To Start Helping Homeowners

Reuters | Posted 06.06.2012 | Business

WASHINGTON, April 6 (Reuters) - The Obama administration wants Fannie Mae and Freddie Mac, which finance the bulk of U.S. mortgages, to start reduci...

DeMarco Needs to Get to Work or Get a New Job

Mary Jo Kilroy | Posted 05.29.2012 | Business
Mary Jo Kilroy

The Federal Housing Finance Agency needs to stop being an obstacle and instead empower Fannie Mae and Freddie Mac to take reasonable measures to rewrite underwater mortgages, including principal reductions.

The White House and Your House: Policy Inertia and Organizational Resistance in the On-going Crisis of American Housing

David Coates | Posted 05.26.2012 | Business
David Coates

In 2008-9, major banks in trouble were bailed out by American homeowners as taxpayers; but in 2012 American homeowners in trouble are not being bailed out by those same banks to anything like the same degree.

Mortgage Giants Accused Of Spending 'Questionable' Amount On Conference

Reuters | Posted 05.21.2012 | Business

WASHINGTON, March 22 (Reuters) - A federal watchdog faulted Fannie Mae and Freddie Mac, the mortgage finance companies propped up with taxpayer fund...

Your Landlord Could Soon Be Wall Street

The Huffington Post | Bonnie Kavoussi | Posted 03.19.2012 | Business

In an ironic twist, the same foreclosure crisis that helped to raise rents in America could now be used to offer some much-needed relief -- and Wall S...

America's Most Dangerous Man: Ed DeMarco Single-Handedly Prevents Principal Reductions

Peter S. Goodman | Posted 05.12.2012 | Business
Peter S. Goodman

The single largest obstacle to meaningful economic recovery is a man who most Americans have probably never heard of, Edward J. DeMarco. From his perch as acting director of the Federal Housing Finance Agency, DeMarco oversees Fannie Mae and Freddie Mac, the government-owned mortgage behemoths that collectively control about half of all home loans in the land. What he does shapes both the national housing market and the ability of troubled borrowers to hang on to their homes. What he has been doing lately has been so unhelpful that Democratic lawmakers and grassroots advocacy groups are properly demanding his ouster.

Bonnie Kavoussi

Top Housing CEOs Will Get Huge Pay Cut | Bonnie Kavoussi | Posted 03.11.2012 | Business

In response to public anger and pressure from U.S. lawmakers, the government regulator overseeing Fannie Mae and Freddie Mac is limiting pay for the m...

The $28 Billion Man: Senator Shelby's Anti-Homeowner Deficit Spree

Richard (RJ) Eskow | Posted 05.02.2012 | Politics
Richard (RJ) Eskow

Republicans love to say that nothing's more important than cutting the Federal deficit. So why is Sen. Richard Shelby wasting $28 billion of taxpayer money?

Ben Hallman

Housing Regulator Won't Heed President Obama On Foreclosure Fix | Ben Hallman | Posted 02.28.2012 | Business

High-level efforts to convince federal housing regulator Edward DeMarco to support a foreclosure prevention technique championed by the Obama administ...

Ben Hallman

Pressure Mounts On This Man | Ben Hallman | Posted 02.27.2012 | Business

Having failed to get Fannie Mae and Freddie Mac on board helping struggling homeowners in California, Attorney General Kamala Harris is trying a new t...

More DeMarco Outrage: You Won't BELIEVE Who He's Considering for Fannie CEO

Richard (RJ) Eskow | Posted 04.23.2012 | Business
Richard (RJ) Eskow

Fannie Mae is currently hunting for a new CEO. Which names are at the top of the list?

Ben Hallman

Homeownership: Huge, Expensive Habit No One Can Break | Ben Hallman | Posted 02.22.2012 | Business

Like many dangerous addictions, the government's reliance on Fannie Mae and Freddie Mac to make real the American dream of homeownership has turned in...