Miller, Thompson step up fight for homeowners, pressure federal regulator to stop blocking principal writedowns

Miller, Thompson step up fight for homeowners, pressure federal regulator to stop blocking principal writedowns

Washington, DC – February 28, 2012 – (RealEstateRama) — Amid the continuing national foreclosure crisis that has impacted millions of Americans, a unilateral decision by Federal Housing Finance Agency (FHFA) to block all forms of principal write-down for loans backed by Fannie Mae and Freddie Mac has prevented the housing market from recovering more quickly, said U.S. Reps. George Miller (D-Martinez) and Mike Thompson (D-St. Helena), who today ramped up pressure on the FHFA to reverse the decision that has stymied a more buoyant housing recovery.

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