Economy/Business News Alert: Fannie Mae, Freddie Mac will not be allowed to reduce loan balances for troubled borrowers, regulator says

Tuesday, July 31, 2012

   
The Washington PostTuesday, July 31, 2012 2:27:24 PM
ECONOMY/BUSINESS NEWS ALERT

Fannie Mae, Freddie Mac will not be allowed to reduce loan balances for troubled borrowers, regulator says


A federal regulator is standing by its decision to bar Fannie Mae and Freddie Mac from reducing principal for borrowers at risk of foreclosure, resisting pressure from the Obama administration.

The Federal Housing Finance Agency announced the decision Tuesday after months of considering the option.


Read more at:
http://www.washingtonpost.com/business/regulator-bars-fannie-freddie-from-reducing-principal-on-mortgage-for-at-risk-borrowers/2012/07/31/gJQAqnq9MX_story.html



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