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Treasury Department Approved Large Decreases in the Estimated Number of Homeowners to Be Helped by States through TARPäó»s HHF Program
Christy L. Romero (ed)
In Feb. 2010, the Admin. launched the TARP-funded housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HHF) for measures to help families in the states hit the hardest by the aftermath of the housing bubble. This housing support program was to be developed and administered by state housing finance agencies (HFAs) with the Treasury Dept.äó»s (Treasuryäó»s) approval and oversight. Treasury allocated $7.6 billion in TARP funds for the HHF program in 18 states and Wash., D.C. However, states could and did change estimates, creating a shifting baseline that makes it difficult to measure performance against expectations. The statesäó» estimated number of homeowners to be assisted by HHF has steadily decreased. This report shows that rather than making states set goals and work hard to achieve HHF goals, Treasury refused to hold itself or the states accountable to any goal of the number of homeowners to be assisted in HHF, so the program is reaching far fewer homeowners than the states expected in 2011. Figures. This is a print on demand report.
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