Search & Filter
-
Statement by Edward J. DeMarco, Acting Director, FHFA, on the Use of Principal Forgiveness by Fannie Mae and Freddie Mac
Today, I provided a response to numerous congressional inquiries as to whether the Federal Housing Finance Agency (FHFA) would direct Fannie Mae and Freddie Mac to implement the Home Affordable Modification Program Principal Reduction Alternative (HAMP PRA). After extensive analysis of the revised...
-
Statement by Federal Housing Finance Agency on FHFA Lawsuit Against Illinois Tax Officials
"The Federal Housing Finance Agency recognizes the difficulties faced by local officials that are struggling with shrinking tax bases. However, FHFA must resist when local governments impose unlawful tax-raising programs on Fannie Mae and Freddie Mac that, in turn, create a cost for taxpayers across...
-
Statement of FHFA Acting Director, Edward J. DeMarco, on Appointment of Timothy J. Mayopoulos as CEO of Fannie Mae
PageContent "I am pleased that the Fannie Mae Board of Directors has selected Timothy J. Mayopoulos to become President and Chief Executive Officer (CEO) of Fannie Mae. Tim brings a breadth of knowledge and experience in housing finance and financial services that is vital at this important time for...
-
Statement of FHFA Acting Director, Edward J. DeMarco, on Appointment of Donald Layton as CEO of Freddie Mac
PageContent "I am pleased that the Freddie Mac Board of Directors has selected Don Layton to become Chief Executive Officer (CEO) of Freddie Mac. With more than 30 years’ experience in the financial services industry and a proven track record of leadership, Don brings tremendous knowledge to the CEO...
-
FHFA Statement on Freddie Mac Refinance Story
A ProPublica-NPR news story today suggested that a mortgage financing vehicle utilized by Freddie Mac may be preventing homeowners from refinancing. While FHFA does not typically comment on its supervisory activities, the circumstances here require some clarification. Freddie Mac has historically...
-
Statement of FHFA Acting Director Edward J. DeMarco on the Announced Changes to HAMP
"The Administration announced changes today to the Home Affordable Modification Program (HAMP). While HAMP has contributed directly and indirectly to widespread foreclosure prevention efforts, there are still many households struggling with their mortgage and other household debt. Fannie Mae and...
-
Letter to Congress Summarizing FHFA’s Determination on Principal Forgiveness as Loss Mitigation tool
January 20, 2012 The Honorable Elijah E. Cummings Ranking Member Committee on Oversight and Government Reform 2235 Rayburn House Office Building Washington, DC 20515 Dear Ranking Member Cummings: In response to your request that the Federal Housing Finance Agency (FHFA) provide the Committee with...
-
Statement of FHFA Acting Director, Edward J. DeMarco, on Michael Williams’ Announcement
PageContent "Today Michael Williams announced his intention to step down as Chief Executive Officer of Fannie Mae after 21 years of service to the company. Over these years, Mr. Williams has served Fannie Mae in many capacities, most notably as the executive responsible for overseeing the company’s...
-
Statement of FHFA Acting Director, Edward J. DeMarco, Regarding Implementation of Guarantee Fee Increase
PageContent "On Dec. 23, 2011, President Obama signed into law the Temporary Payroll Tax Cut Continuation Act of 2011. Among its provisions, this new law directs the Federal Housing Finance Agency (FHFA) to increase guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) by no less...
-
Statement of Edward J. DeMarco on Home Affordable Refinance Program (HARP)
Last night President Obama spoke of the Administration’s intent to work with federal agencies to take advantage of historically low interest rates and refinancing opportunities. The Federal Housing Finance Agency (FHFA) has been reevaluating an existing program, the Home Affordable Refinance Program...