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Troubled Asset Relief Program (TARP): Treasury Department Could Better Analyze Data to Improve Oversight of Servicesäó» Practices
Troubled Asset Relief Program (TARP): Treasury Department Could Better Analyze Data to Improve Oversight of Servicesäó» Practices
 
Our Price: $25.00
By Mathew J. Scire (au)
Year: 2014
Pages: 60
Binding Paperback
ISBN 978-1-4578-5804-8

Product Code: 1457858045

Description
 
The U.S. Dept. of the Treasury (Treasury) continues to use funds under the $700 billion Troubled Asset Relief Program (TARP) authorized by the Emergency Economic Stabilization Act of 2008 (EESA) to address weaknesses in the U.S. housing market that continue to hamper the economic recovery. Treasury announced in 2009 that up to $50 billion would be used to help as many as 3-4 million struggling homeowners avoid potential foreclosure, but subsequently reduced the amount to $38.5 billion. The cornerstone program under Treasury's Making Home Affordable (MHA) efforts is the Home Affordable Modification Program (HAMP), which provides financial incentives for borrowers, servicers, and mortgage holders/investors to modify first-lien mortgages. This examines (1) the status of TARP-funded housing programs; (2) Treasury's efforts to monitor and evaluate HAMP denial and redefault rates among servicers; and (3) the status of the implementation of GAO's prior recommendations related to TARP-funded housing programs. Tables and figures. This is a print on demand report.

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