FHFA: Refinancing, yes; principal reduction, no

The director of the Federal Housing Finance Agency (it oversees Fannie and Freddie) has made it clear that the agency is not considering reducing the balances of borrowers — only their interest rates.

Congress has been pushing the agency to look at principal reduction, but FHFA director Edward DeMarco said that, “Some of those things that are being advocated for us to do really go beyond what Congress has given us the authority to do.”

Read all about it.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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