FHFA More Concerned With Banks Than With Homeowners, California Lawmakers Say

The Federal Housing Finance Agency is well on its way to a remarkable achievement: proving less popular, among housing groups, than even the banks whose actions have exacerbated the foreclosure crisis.  For months, the regulator has drawn withering fire for its opposition to reducing loan values for some underwater borrowers. Now, some members of California’s congressional delegation are suggesting that the agency’s top lawyer, Alfred Pollard, is a stooge of the mortgage industry after he sent a letter expressing concern with pending state legislation meant to give homeowners facing foreclosure increased legal rights.  On Wednesday, 14 California lawmakers sent a response asking the FHFA’s inspector general and the Department of Justice to investigate whether Pollard’s letter constituted inappropriate lobbying.

Huffington Post


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