New York Attorney General Schneiderman has charged DeMarco with "standing in the way" of the Obama administration's efforts to implement a program that would authorize Fannie and Freddie to write down mortgages.

New York AG's Memo Says Obama Can Replace FHFA's DeMarco

Federal law gives President Obama the ability to remove the Federal Housing Finance Agency's acting director and replace him with one of three deputies, Schneiderman's office concludes in a memo obtained by news outlets.

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