Menendez, Reed, Warner, Merkley lead call for FHFA to fix flawed study on principal reductions


Washington, DC – April 4, 2012 – (RealEstateRama) — U.S. Senators Robert Menendez (D-NJ), Chairman of the Housing Subcommittee, Jack Reed (D-RI), Chairman of the Securities Subcommittee, Mark Warner (D-VA), Chairman of the International Trade and Finance Subcommittee and Jeff Merkley (D-OR) today led a group of 30 Senators in calling on Acting Director of the Federal Housing Finance Agency (FHFA) Edward DeMarco to provide Congress with an accurate analysis of the effects on taxpayers of using principal forgiveness versus other mortgage modification options such as principal forbearance for loans backed by Fannie Mae and Freddie Mac.

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