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Items Tagged with 'Mel Watt'


FHFA makes it official: Principal reduction is coming

Plan is 'final crisis-era' modification program
A day that many in the housing industry thought would never come is finally and actually here, as the FHFA is making it official – widespread principal reduction is coming. In what it is calling a "final crisis-era modification program," the FHFA announced Thursday that it will be launching a principal reduction program for some borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac.
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New York Attorney General pushes FHFA for principal reduction

Schneiderman wants Fannie, Freddie to cut mortgage balances
New York Attorney General Eric Schneiderman joins the chorus calling for Fannie Mae and Freddie Mac to reduce the mortgage balances of struggling borrowers. Schneiderman sent a letter to FHFA Director Mel Watt this week, stating that principal reduction "should be deployed broadly and quickly to homeowners in desperate need of this relief from the continuing damage caused by the housing crisis."
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The math behind the need for GSE reform

MBA CEO: This unfinished work 'looms over our nation'
The calls to allow the GSEs to rebuild capital amplify an important issue and are based on valid and reasoned concerns that we all share. Unfortunately allowing them to just recapitalize is simply not a mathematical possibility.
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From HW Magazine

Inside Goldman Sachs

Housing conference looks at what mortgage companies will need to survive in the future
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo.
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FHFA director Watt answers “What’s going on with HARP?”

Sets industry talks straight
After a town hall meeting on the Home Affordable Refinance Program on Wednesday, the housing market was left questioning if the program would be extended or possibly even expanded. And the industry was quick to ask FHFA Director Mel Watt to clarify at the Goldman Sachs Housing Finance Conference in New York City the next day.
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