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Loan Reductions for Fannie Mae and Freddie Mac Borrowers Blocked By Regulator
A plan to cut the amount of principal owed by borrowers with troubled mortgages from Fannie Mae and Freddie Mac has been blocked by the acting head of the Federal Housing Finance Agency. The move has brought strong words from members of Congress and even Treasury Secretary Timothy Geithner.
Earlier in the year, Fannie Mae and Freddie Mac both concluded that writing down the amount owed by troubled...