FHFA delays principal reduction ruling

A discharge of indebtedness that does not qualify for the qualied principal residence indebtedness exclusion in 108(a)(1)(E) may qualify for another exclusion, such as the insolvency exclu- sion under 108(a)(1)(B) or the deduct- ible debt exclusion under 108(e)(2).

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Edward DeMarco has opened up a new front on his war against principal reduction. On Thursday, the Federal Housing Finance Agency, which DeMarco oversees as acting director, threatened to take action against local governments considering using the power of eminent domain to write down the value of.

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The letter states, "We have long urged FHFA to provide principal reduction as a means to avoid foreclosure and stabilize families and communities. We have been greatly frustrated by the delay. Empirical evidence from other lenders demonstrated that principal reduction avoids foreclosure and enables sustainable homeownership for troubled.

House GOP Backs FHFA Delay On Principal Reductions. to hold off on a final ruling as to whether Fannie and Freddie can cut the amount of money that underwater homeowners owe on their mortgages. Moreover, on February 16, 2017, the U.S. Court of Appeals for the D.C. Circuit vacated the ruling in PHH and ordered a rehearing.

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No. 957, Land Gorilla earned $6 million last year and grew 516% in the last.FHFA delays principal reduction ruling beginning october 15, 2016, loan servicers must begin contacting eligible homeowners about the principal reduction modification program. They have until December 31, 2016 to do so, which means homeowners have a very narrow window.

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DeMarco rejected the two House members’ suggestions that the FHFA was stonewalling the committee’s review of the agency’s stance on allowing Fannie and Freddie to engage in principal reductions.

 · WASHINGTON — Fannie Mae officials supported principal reductions for some struggling homeowners in 2009 and believed they would save taxpayer money,

Pershing Square Holdings is a publicly traded hedge fund which trades as. 2017 letter from six Democratic Senators to the Treasury Secretary and FHFA Director "requesting that the GSEs be permitted.

The FHFA released. any meaningful reduction to the balance sheet. Wall Street traders expect the portfolio to begin shrinking in a controlled rate of decline about six months after the first rate.