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DeMarco Holds the Line, Rejects Principal Reductions

by Donna Borak
JUL 31, 2012 2:26pm ET
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Edward DeMarco, the acting director of the Federal Housing Finance Agency, on Tuesday defied both the Obama administration and widespread expectations that he would cave to a torrent of political pressure and allow Fannie Mae and Freddie Mac to offer principal reductions to troubled borrowers.

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