California Seeks Fannie Mae, Freddie Mac Foreclosure Halt
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California Attorney General Kamala Harris urged the federal regulator overseeing Fannie Mae and Freddie Mac to halt foreclosures on loans and consider debt forgiveness for homeowners in the most populous state.
In a letter to Edward DeMarco, acting director of the Federal Housing Finance Agency, Harris requested a suspension of foreclosure sales in California for the more than 60 percent of loans in the state owned or guaranteed by Fannie Mae or Freddie Mac, which together back most U.S. mortgages.