Congressman asks FHFA to back off REO initiative | April 20, 2012 | Pleasanton Weekly | |

Pleasanton Weekly

Real Estate - April 20, 2012

Congressman asks FHFA to back off REO initiative

Program would hurt market, raise costs for taxpayers, Brea representative says

by Jeb Bing

California Congressman Gary Miller (R-Brea), along with 18 other members of California's congressional delegation, issued a letter last week to Edward J. DeMarco, acting director of the Federal Housing Finance Agency (FHFA), urging DeMarco to refrain from implementing the agency's "REO Initiative" pilot program in California because it would negatively impact California's housing market and raise costs for taxpayers.

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