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The Federal Housing Finance Agency could have a “legal responsibility” to approve loan modifications for certain homeowners now that the U.S. Treasury has offered to share in the cost of mortgage write-downs, said Shaun Donovan, secretary of the Department of Housing and Urban Development.
Donovan made the comments in an interview taped for C-SPAN’s “Newsmakers” program, according to an article in The Wall Street Journal.
Edward DeMarco, acting director of the FHFA, has resisted principal forgiveness.
Listen to the entire interview here.
— Kerry Curry
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