Review of the Department of the Treasury’s Foreclosure Prevention Programs PDF Download
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Author:
Publisher: DIANE Publishing
ISBN: 1437944701
Category :
Languages : en
Pages : 192
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Book Description
Author:
Publisher: DIANE Publishing
ISBN: 1437944701
Category :
Languages : en
Pages : 192
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Book Description
Author: United States. Congressional Oversight Panel
Publisher:
ISBN:
Category : Foreclosure
Languages : en
Pages : 172
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Book Description
Author: United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 160
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Author: United States. Congress. House. Committee on Oversight and Government Reform
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 468
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Author: United States. Government Accoutability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781977545749
Category : Foreclosure
Languages : en
Pages : 52
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Book Description
Since 2009 Treasury has obligated $27.8 billion in TARP funds through its MHA program to help struggling homeowners avoid foreclosure. The Emergency Economic Stabilization Act of 2008 includes a provision for GAO to report every 60 days on TARP activities. This report examines the extent to which Treasury is reviewing unexpended balances and cost projections for the MHA programs. To do this work, GAO used 2015 mortgage and other data from a private vendor and Treasury to help illustrate potential future costs of MHA/HAMP, reviewed internal Treasury documents, and interviewed relevant federal agency officials.
Author: Neil Barofsky
Publisher: Simon and Schuster
ISBN: 1451684940
Category : Political Science
Languages : en
Pages : 288
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Book Description
In this riveting account of the mishandling of the TARP bailout fund, a former federal prosecutor offers behind-the-scenes proof of the corrupt ways Washington officials serve the interests of Wall Street. In this bracing, page-turning account of his stranger-than-fiction baptism into the corrupted ways of Washington, Neil Barofsky offers an irrefutable insider indictment of the mishandling of the $700 billion TARP bailout fund. During the height of the financial crisis in 2008, Barofsky gave up his job in the esteemed US Attorney’s Office in New York City to become the special inspector general overseeing the spending of the bailout money. But from day one his efforts to protect against fraud and to hold the big banks accountable were met with outright hostility from Treasury officials. Bailout is a riveting account of Barofsky’s plunge into the political meat grinder of Washington, and a vital revelation of just how captured by Wall Street our political system is and why the banks have only become bigger and more dangerous in the wake of the crisis.
Author: United States. Congress. House. Committee on Financial Services
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 232
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Author: U.s. Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781974203659
Category :
Languages : en
Pages : 70
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Book Description
"United States Government Accountability Office Highlights of GAO-13-192, a report to congressional addressees January 2013 TROUBLED ASSET RELIEF PROGRAM Treasury Sees Some Returns As it Exits Programs and Continues to Fund Mortgage Programs What GAO Found As of September 30, 2012, the Department of the Treasury (Treasury) was managing assets totaling $63.2 billion in nonmortgage-related Troubled Asset Relief Programs (TARP) (see figure). As of this date, Treasury had exited 4 of the 10 nonmortgage-related programs, and in December 2012 Treasury announced the exit from a fifth program-the American International Group (AIG) Investment Program. Exactly when Treasury will exit the remaining five programs remains uncertain. Treasury has identified several factors that will affect its decisions. For example, - for the Capital Purchase Program (CPP, created to provide capital to financial institutions), the financial condition of the participating institutions and the success of auctions; - for the Community Development Capital Initiative (CDCI, created to provide capital to credit unions and financial institutions in underserved communities), which Treasury has not yet decided to exit, the financial condition of the participating institutions and the rate at which the institutions repay Treasury; and - for the Automotive Industry Financing Program (AIFP, created to prevent a significant disruption of the American automotive industry). Some programs, such as CPP, have yielded returns that exceed the original investments. Others, such as CDCI and AIFP, have not. Unlike the nonmortgage-related TARP programs, TARP-funded mortgage programs, which focus on mitigating foreclosures, are ongoing, and Treasury's oversight of new requirements designed to improve servicers' interactions with borrowers showed both challenges and improvements. Treasury allocated $45.6 billion in TARP funds to three programs, including Making Home Affordable (MHA), but more than $40 billion of the funding has not yet been disbursed, and the programs have not reached the expected number of borrowers. The centerpiece of MHA is the Home Affordable Modification Program, which has provided about 1.1 million permanent modifications to borrowers. To help ensure that homeowners receive appropriate assistance from servicers under this and other MHA programs, since September 2011 Treasury has required servicers to identify a "relationship manager" to serve as the homeowner's single point of contact throughout a delinquency or imminent default resolution process. GAO found that Treasury's initial reviews of servicers' implementation of this requirement had identified some inconsistencies. However, oversight of a second requirement designed to improve the resolution of borrower inquiries and disputes (escalated cases) showed that the nine largest servicers had met the performance target. Treasury officials said that the MHA program administrator, Fannie Mae, handled oversight of the escalation process and the vendors who supported in keeping with Treasury's guidelines. View GAO-13-192 or key components. For more information, contact Thomas J. McCool at (202) 512-2642 or
[email protected]."
Author: United States. Congressional Oversight Panel
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
Author: United States. Congressional Oversight Panel
Publisher:
ISBN:
Category : Foreclosure
Languages : en
Pages : 200
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Book Description
