Lawmakers push for more urgency
from FHFA
Source:
Informa Research Services
(9/16/2011) The
government agency that oversees both Fannie Mae and Freddie Mac is now being
accused by federal lawmakers on both sides of the aisle of not picking up the
slack when it comes to addressing the foreclosure crisis.
More
than two dozen U.S. Representatives, mostly Democrats, recently sent a letter to
the acting director of the Federal Housing Finance Agency, after a particularly
unproductive meeting with lower-level staff, saying the agency isn't doing
enough to help clear up the current national foreclosure crisis, according to a
report from Bloomberg News. One Republican who did sign the letter was Darrell
Issa of California, who leads the House Oversight Committee.
Consumers
who are looking for relief from impending foreclosure may want to consider
refinancing their existing home
loans.
By checking the latest online rate tables to find the best local mortgage
rates,
consumers can likely lower their current monthly payments by as much as a few
hundred dollars.
"We
expressed our profound frustration with the apparent lack of urgency shown by
your agency and by agencies within the Administration in addressing the
foreclosure crisis," the lawmakers said in their letter, according to the news
agency.
