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the speech: Addressing the Weak Housing Market: Is Principal Reduction the Answer? – Edward J. DeMarco, Acting Director – Federal Housing Finance Agency

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DeMarco gives preliminary support to principal reductions under HAMP – By Jon Prior – Federal Housing Finance Agency Acting Director Edward DeMarco said principal reductions done under larger incentive payments from the Treasury Department would save Fannie Mae and Freddie Mac enough money to begin an umbrella write-down program. DeMarco released preliminary findings from an FHFA analysis in a speech at the Brookings Institute Tuesday. He stressed the findings were early, and the risk of strategic default was very real and could easily wipe out any benefit. – Housingwire

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Breaking Down DeMarco’s Brookings Speech on Principal Reduction – By: David Dayen – Fire Dog Lake