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Principal write-down talk leaves out taxpayers

Posted in Principal Reduction

Principal write-down talk leaves out taxpayers Posted by Jessica Huseman on 3/30/12 at 12:32pm All of this talk about Fannie Mae and Freddie Mac reconsidering principal reductions seems to be leaving out one major thing: Taxpayers. Wasn’t it the stance of Ed DeMarco, acting head of the Federal Housing Finance Agency that doing principal reductions was bad because it left taxpayers on the hook? Wasn’t that his biggest reason for saying “no” to principal reductions for the last several months? Maybe he should have gotten Fannie and Freddie on message. The both of them are now reconsidering principal reductions due to an announcement by the Treasury that it would triple incentives for mortgage investors to do principal reductions. “I have to say recently the Treasury sweetened the program and tremendously increased the incentive payments in their offer to us,” Freddie Mac CEO Charles “Ed” Haldeman said at HousingWire’s REThink...

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