Tierney Continues to Call on FHFA to Allow Mortgage Modifications and Keep...

Tierney Continues to Call on FHFA to Allow Mortgage Modifications and Keep Families in their Homes

Washington, DC – January 18, 2012 – (RealEstateRama) — Today, Congressman John Tierney and Oversight and Government Reform Committee Ranking Member Elijah Cummings called on Committee Chairman Darrell Issa to subpoena documents that Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco committed to share with the Committee in November. Congressman Tierney originally requested the documents during a November 16, 2011 Committee hearing in which DeMarco claimed his agency’s refusal to push banks to keep families in their homes through loan modifications was based on its own thorough analytics. Tierney called into question the validity of such an analysis which would be counter to recommendations by others in the field. FHFA has failed to produce a single document in response to this request over the last two months.

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