Kathianne
08-01-2012, 05:50 AM
How long will the regulator stay the course? Hopefully better than Roberts did on Obamacare.
http://news.yahoo.com/regulator-rejects-govt-mortgage-write-down-plan-181123003--business.html
Regulator says no to Obama mortgage write-down planhttp://l1.yimg.com/bt/api/res/1.2/FZN6924R0WZ__x92.x6.GA--/YXBwaWQ9eW5ld3M7Zmk9Zml0O2g9Mjc-/http://media.zenfs.com/en_us/News/logo/reuters/d0c3eb8ca18907492a4b337b5cec5193.jpeg (http://www.reuters.com/)<cite id="yui_3_5_1_24_1343818059224_381" class="byline vcard">By Rachelle Younglai | Reuters – <abbr title="2012-07-31T23:45:46Z">11 hrs ago
</abbr></cite>WASHINGTON (Reuters) - The top housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to show voters it can help fix the housing market.
The regulator for government-run housing finance giants Fannie Mae and Freddie Mac said on Tuesday that using taxpayer-funded bank bailout money could encourage defaults and not make a big improvement in reducing foreclosures in a cost-effective way for taxpayers.
"The anticipated benefits do not outweigh the costs and risks," said the Federal Housing Finance Agency's head Edward DeMarco, who has come under intense pressure from the government to agree to the plan.
The regulator's decision drew an immediate rebuke from the Obama administration and Democratic lawmakers. Treasury Secretary Timothy Geithner disputed the agency's conclusions and urged DeMarco to reconsider his decision.
...
<cite id="yui_3_5_1_24_1343818059224_381" class="byline vcard"><abbr title="2012-07-31T23:45:46Z">
</abbr></cite>
http://news.yahoo.com/regulator-rejects-govt-mortgage-write-down-plan-181123003--business.html
Regulator says no to Obama mortgage write-down planhttp://l1.yimg.com/bt/api/res/1.2/FZN6924R0WZ__x92.x6.GA--/YXBwaWQ9eW5ld3M7Zmk9Zml0O2g9Mjc-/http://media.zenfs.com/en_us/News/logo/reuters/d0c3eb8ca18907492a4b337b5cec5193.jpeg (http://www.reuters.com/)<cite id="yui_3_5_1_24_1343818059224_381" class="byline vcard">By Rachelle Younglai | Reuters – <abbr title="2012-07-31T23:45:46Z">11 hrs ago
</abbr></cite>WASHINGTON (Reuters) - The top housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to show voters it can help fix the housing market.
The regulator for government-run housing finance giants Fannie Mae and Freddie Mac said on Tuesday that using taxpayer-funded bank bailout money could encourage defaults and not make a big improvement in reducing foreclosures in a cost-effective way for taxpayers.
"The anticipated benefits do not outweigh the costs and risks," said the Federal Housing Finance Agency's head Edward DeMarco, who has come under intense pressure from the government to agree to the plan.
The regulator's decision drew an immediate rebuke from the Obama administration and Democratic lawmakers. Treasury Secretary Timothy Geithner disputed the agency's conclusions and urged DeMarco to reconsider his decision.
...
<cite id="yui_3_5_1_24_1343818059224_381" class="byline vcard"><abbr title="2012-07-31T23:45:46Z">
</abbr></cite>