DeMarco Shrinks Fannie-Freddie Without Help From Congress via Businessweek

The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows.

This surprised several dozen demonstrators, one in a vampire costume, who arrived at DeMarco’s residence in a middle- class Washington suburb last month to demand he quit his job as acting director of the Federal Housing Finance Agency.

“My home is better-looking than this,” said Catrese Tucker, a Massachusetts toll collector whose property is in foreclosure. “I don’t believe this is his home.”

As the overseer of mortgage giants Fannie Mae (FNMA ) and Freddie Mac, DeMarco has become the focus of ire from homeowners and lawmakers who want more aid for troubled borrowers, even as the two government-run companies subsist on taxpayer life support that now totals $190 billion.

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