Opinion: Housing Agency Needs a New Leader - Eric Schneiderman & Martha Coakley


Opinion: Housing Agency Needs a New Leader – Eric Schneiderman & Martha Coakley

Opinion: Housing Agency Needs a New Leader – Eric Schneiderman & Martha Coakley

EXCUSE ME while I clear my throat here. What has any AG done to help the homeowners while the fraud was committed? Why didn’t they suspend the banks from doing business while the foreclosure fraud was making headlines and with LPS in both NY and MA why didn’t they too file an individual lawsuit? Because they continued to permit banks to do business as usual thousands still got the boot from their homes. As far as I see this, DeMarco at least has filed 17 HUGE lawsuits against most all the banks and this is scaring the hell out of them… possibly costing them billions.

Read some trust PSA’s loan reductions/modifications might not be permitted and not up to DeMarco. I’m not standing up for anyone just setting the facts straight! So just like DeMarco, the AG’s could have also done their work.

Where the hell is this Task Force Schneiderman is in charge of anyways? There isn’t any.


Last week, we joined seven other state attorneys generals in calling on President Barack Obama to replace Edward DeMarco, the acting director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac. We don’t have anything against DeMarco personally, but we believe that he is standing in the way of progress toward a full economic recovery and hurting families across the country. It is time for new leadership and a new direction at Fannie and Freddie.

Millions of households are still drowning in mortgage debt — a legacy of the collapsed housing bubble. In the fourth quarter of 2012, 10.4 million properties — 21.5 percent of all homes with mortgages — had negative equity or “underwater mortgages,” meaning that borrowers owed more on their mortgages than the properties were worth.


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