The Senates rules change today means that Ed DeMarco, who oversees Fannie Mae and Freddie Mac under the Federal Housing Finance Agency, is finally on his way OUT. Under the leadership of Ed DeMarco, Fannie and Freddie have consistently refused to enact principal reduction or negotiate with struggling homeowners--including the Cruz family and Jaymie Kelly. Rep. Mel Watt, who was nominated to succeed DeMarco but was filibustered by Republicans, will likely come back for a vote in the next few weeks. Now that the Senate has achieved this rules change, we hope they will act quickly to remove DeMarco from office. With Jaymies house under imminent threat of eviction, we cant wait any longer for a change of leadership at Freddie Mac.
Posted on: Thu, 21 Nov 2013 21:34:23 +0000
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