Sen. Elizabeth Warren (D-Mass.) said FHFA Director Mel Watt is moving too slowly to execute a plan to assist homeowners with principal reduction.
During a Senate Banking Housing and Urban Affairs Committee hearing Wednesday, Warren called principal reduction a win-win for Fannie and Freddie as well as families.
Warren said Watt is required by law to implement a plan that seeks to maximize assistance for homeowners and take advantage of programs that would minimize foreclosures.
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