James Lockhart

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Schumer: GSEs Need to Embrace ‘Partial Chargeoffs’ 

Feb 07, 2008By

Senator Charles Schumer (D-NY) called Wednesday on both Fannie Mae and Freddie Mac to reduce the principal balance of loans for borrowers whose property values have fallen below what they owe on their mortgage, as part of an effort to help borrowers avoid foreclosure, Reuters reported.

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