Industry News
March 20, 2012
California Attorney General Seeks Suspension of Foreclosures
Attorney General Kamala Harris has asked Edward DeMarco, acting director of the Federal Housing Finance Agency, to suspend foreclosure sales in California for the more than 60 percent of loans owned or guaranteed by Fannie Mae and Freddie Mac.
Harris wants the sales halted until the agency completes a thorough, transparent analysis of whether principal reduction is in the best interests of struggling homeowners as well as taxpayers.
