NEW YORK—State Attorneys General (AG) are urging president Barack Obama to replace Edward DeMarco, the acting director of the Federal Housing Finance Agency (FHFA.) In a letter dated March 13, nine AGs request that a new, permanent director be appointed to replace DeMarco.
According to the letter, under DeMarco’s leadership, FHFA has become an obstacle to ongoing mortgage relief to distressed homeowners. In particular, FHFA has refused to adopt policies that would allow for principal forgiveness and forbearance.
