Senate Banking Committee Writes to Federal Housing Finance Agency
Senator Sherrod Brown (D-OH), Chair of the US Senate Committee on Banking, Housing and Urban Affairs, along with Jack Reed (D-RI), Ron Wyden (D-OR) and Elizabeth Warren (D-MA) sent a letter to the Federal Housing Finance Agency (FHFA) requesting a review of Fannie Mae and Freddie Mac’s nonperforming loan and reperforming loan sales programs. The letter asserts that of the more than 110,000 nonperforming loans sold, 60% resulted in the displacement of the homeowner. Read more.