Relevant:
- Fannie and Freddie's biggest deadbeats
- Anger Grows Over FHFA Chief - Mortgage regulator stands firm against pressure for write-downs
- Fannie Mae: Principal write-downs pose challenges
- Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners
- Will the White House Move the ‘Boulder' on Principal Write-Downs?
2010-05-14 — cnn.com
Pressure is mounting on loan servicers and investors to reduce troubled homeowners' loan balances...but the two largest owners of mortgages aren't getting the message.
Fannie Mae and Freddie Mac, which are controlled by the federal government, do not lower the principal on the loans they back, instead opting for interest rate reductions and term extensions when modifying loans.
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