• Media received a phony press release saying that Fannie Mae has a principal-reduction program called the "HomeRight Community Relief Program."
• The bogus announcement claimed Fannie was going to force services to take haircuts by reducing mortgages from face values to market values.
• Fannie has put a legal team to work trying to track down where the false release came from.

From the article:

Just to be clear: This is not happening.

A fake press release with Fannie Mae letterhead, links and contact information was sent to some media outlets, announcing a new principal reduction program. ...