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The Boston Globe

Business

Martha Coakley calls for regulator’s ouster

AG says agency chief blocking foreclosure aid to homeowners

Attorney General Martha Coakley on Monday called for the removal of the federal chief regulator of mortgage giants Fannie Mae and Freddie Mac, saying he is blocking efforts that would help struggling homeowners avoid foreclosure.

Edward J. DeMarco, acting director of the Federal Housing Finance Agency, has drawn widespread criticism from housing advocates and members of Congress for refusing to support a program that would lower the debts of delinquent mortgage holders. Coakley will add her voice to the chorus on Tuesday, in a speech before a meeting of housing industry workers in Boston.

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