Relevant:
- Geithner Urges Servicers to Boost Loan Modifications
- Fannie, Freddie leader's mortgage-cutting dilemma
- Anger Grows Over FHFA Chief - Mortgage regulator stands firm against pressure for write-downs
- Tim Geithner's principal hypocrisy
- NPR/Pro Publica Story on Fannie/Freddie Principal Mod Analysis Falls Apart
2012-03-29 — bloomberg.com
Geithner, the U.S. Treasury secretary, is offering new incentive payments to the two government-supported mortgage financiers if DeMarco drops his opposition to principal reductions for homeowners whose loans are backed by the companies. Geithner told Congress yesterday he was sure the economics would work in favor of debt reductions "in some circumstances." The Treasury would pay a maximum of 63 cents for each dollar of loan forgiveness as part of its expanded Home Affordable Modification Program.
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