Wells Fargo CEO: Principal Reduction Not the Answer
admin2011-03-14T04:55:03-07:00March 14, 2011 (Shirley Allen) Wells Fargo & Co. CEO John Stumpf said that principal reductions could have a “huge impact” on Freddie Mac and Fannie Mae and that such a strategy could entice homeowners to default on their current loans in order to get a better deal, echoing the worries made last week by [...]