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FHFA Head Explores Ways to Fix a Weak Housing Market

FHFA Acting Dir. Edward DeMarco

FHFA Acting Dir. Edward DeMarco

Washington, DC
Tuesday, April 10, 2012

The head of the agency regulating Fannie Mae and Freddie Mac Tuesday said the two mortgage holding companies could see benefits from reducing loan amounts for some homeowners.

Federal Housing Finance Agency (FHFA) Acting Dir. Edward DeMarco said no final decisions have been made on principal reduction, and he defended other programs aimed at helping homeowners facing foreclosure. He spoke at the Brookings Institution in Washington. A panel of housing finance experts also discusses the potential impact on the housing market of a principal reduction program.

The Treasury Department and others have been pressuring the FHFA to reduce the amount owed on some of Fannie and Freddie's mortgage loans in order to prevent foreclosures. DeMarco has opposed the idea, citing the policy's potential impact on Fannie and Freddie's financial health.

Panelists included: CoreLogic Chief Economist Mark Fleming; Nomura Securities International Executive Director Paul Nikodem; George Mason University Distinguished Professor of Real Estate Finance Anthony B. Sanders; and Enterprise Community Partners Senior Director of Policy Development and Research Andrew Jakabovics.

Updated: Tuesday, April 10, 2012 at 1:22pm (ET)

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Washington Journal (late 2012)