Disappointed partisan opponents of the Federal Housing Finance Agency’s decision to rebuff White House efforts to forgive the principal on delinquent mortgages guaranteed by Fannie Mae and Freddie Mac are blaming the agency head for the administration’s failure to rescue underwater homeowners, particularly in politically valuable states. Last week, FHFA Acting Director Edward DeMarco formally announced the agency would not allow the GSEs to implement the Treasury Department’s Home Affordable Modification Principal Reduction Alternative. …