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Washington, DC - August 1, 2012 - (RealEstateRama) -- Congressman John Tierney today released the following statement in response to the decision by Federal Housing Finance Agency Acting Director Ed DeMarco to forbid Fannie Mae and Freddie Mac from reducing principal on mortgages even though utilizing principal reductions could save Fannie Mae and Freddie Mac as much as $3.6 billion, save U.S. taxpayers up to $1 billion on a net basis, and help up to 497,000 homeowners. The Department of the Treasury also issued a letter today calling on FHFA Acting Director Ed DeMarco to reconsider his decision.

Washington, DC - October 26, 2011 - (RealEstateRama) -- Congressman John Tierney released the following statement in response to the Federal Housing Finance Agency (FHFA) decision to enact a series of changes to the Home Affordable Refinance Program (HARP) that will help more eligible borrowers refinance their home mortgage.

Salem, MA - June 30, 2011 - (RealEstateRama) -- Congressman John Tierney and Professor Elizabeth Warren, Assistant to President Obama and a Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), met with a small group of local community bankers, mortgage bankers, and realtors yesterday. Congressman Tierney invited Professor Warren to our area to continue her conversation with community bankers as the CFPB begins its mission to protect consumers with reforms to the mortgage process.

Peabody, MA - January 26, 2011 - (RealEstateRama) -- As the Commonwealth deals with another bout of bitter cold temperatures, Congressman John Tierney today announced that Massachusetts is expected to receive an additional $8,672,501 in emergency contingency funding to help seniors and working families around the state heat their homes this winter. In total, the state will receive $182,246,823 in necessary energy assistance between October 2010 and March 4, 2011. These new funds come less than two weeks after Congressman Tierney announced $72,765,243 in LIHEAP funds.