The policy is right. DeMarco far exceeds his "acting" charter to refuse his help on implementing it.
Part of leadership is "overcoming" obstacles, such as this obstructionist twit. Obama needs to show us he has the gumption to do at least this much. (Too little and too late, but a very newsworthy symbol.)
Mass refinancing of ALL potentially viable mortgages at far better terms should be a given, after the illegal disasters leading to our economic meltdown.
Banking institutions should eat ALL of the lost principle and interest, just for their own failure to self regulate.
HAMP (etc) will not do that, but it is in the right direction. Post-election, hopefully, you can do more.
Don't be wimpy on trying! Replace DeMarco, and ask November voters to support the larger goals