Big news this week. The Federal Housing Finance Agency released a report on their study on the effects of principal reduction and Edward DeMarco announced he would block efforts to reset home loans to fair market value. Here's what we said on the issue:
"More than 85,000 Rebuild the Dream members have signed a petition calling on President Obama to fire Acting Director DeMarco, and thousands more have made phone calls to the White House. We value the administration's continued pressure on DeMarco to embrace principal reductions -- including Treasury's repeated offers to provide assistance and incentives -- but the time for more forceful action has come. This community will continue demanding that our leaders provide real hope to homeowners, including principal reductions that will keep families in their homes and expanded refinancing options that will save millions of homeowners hundreds each month." - Ian Kim, Managing Director of Rebuild the DreamWant to catch up on the news surrounding Ed DeMarco? We have a miniature roundup ready for you:
- New York Times Columnist Paul Krugman writes, not one, but two editorials calling to fire DeMarco.
- Even Treasury Secretary Timothy Geithner writes a strongly worded letter opposing DeMarco's decision.
- Politico points out many progressive groups, including Rebuild the Dream, want DeMarco gone.
- Slight humble-brag: Our CEO Natalie Foster was mentioned in articles in the Huffington Post and San Francisco Chronicle
- And yes, it is absolutely possible for Barack Obama to replace Ed DeMarco.
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